# Indonesia's rupiah charges to the top of Asia's best-performing currencies - The Business Times

> The Indonesian rupiah rose to the top of Asia's currency performance table this year, up more than 2% against the dollar. It has since weakened about 1.5% in February after foreign funds sold roughly US$400 million of Indonesian bonds this month. Traders are reassessing how high US rates may go.

- Date: 2023-02-27 · published 2023-02-27T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/37656-indonesia-s-rupiah-charges-to-the-top-of-asia-s-best-performing-currencies-the
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer rupiah lowers the local-currency cost of Indonesian imports such as soybean meal and corn, while renewed weakness raises them. Indonesia is also a major palm oil exporter, so currency moves can shift its export pricing.

## Read by commodity

- DXY: bullish ▲
- USDIDR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-10-28 | [Asian currencies: Indonesian rupiah, ringgit fall - Business & Finance - Business Recorder](https://feedsoft.ai/events/28133-asian-currencies-indonesian-rupiah-ringgit-fall-business-and-finance-business.md) | +0.2% | +1.9% |
| DXY | 2024-05-30 | [Asian currencies: Indonesia rupiah hits weakest since early May](https://feedsoft.ai/events/30581-asian-currencies-indonesia-rupiah-hits-weakest-since-early-may.md) | +0.3% | +1.8% |
| DXY | 2024-10-22 | [Bank Indonesia intervenes as Trump, Fed jitters weigh on rupiah - The Business Times](https://feedsoft.ai/events/28172-bank-indonesia-intervenes-as-trump-fed-jitters-weigh-on-rupiah-the-business.md) | +0.3% | +1.5% |
| DXY | 2024-03-24 | [Strong US dollar hits Thai baht, Malaysian ringgit hardest among Asean currencies  - The Business Times](https://feedsoft.ai/events/31494-strong-us-dollar-hits-thai-baht-malaysian-ringgit-hardest-among-asean.md) | -0.1% | +1.6% |
| DXY | 2021-06-21 | [The rand goes from best-performing to worst-performing emerging market currency - Moneyweb](https://feedsoft.ai/events/46874-the-rand-goes-from-best-performing-to-worst-performing-emerging-market-currency.md) | -1.0% | +0.4% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/international/asean/indonesias-rupiah-charges-top-asias-best-performing-currencies

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.