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Bank Indonesia sold $15 million of FX term deposits to exporters through agent banks in its first auction of the instrument. The aim is to keep export proceeds in the country longer and support foreign exchange reserves.
The measure is aimed at supporting rupiah liquidity and reserves rather than changing commodity supply or demand. Its effect on feed input prices is marginal.
reuters.comGayatri SuroyoMar 2, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
