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Indonesia's central bank governor said Bank Indonesia has been intervening in currency markets to defend the rupiah against pressure from expectations of further US rate hikes. He said he expects the rupiah to strengthen once uncertainty over US rates subsides.
Central bank intervention limits near-term rupiah weakness, which keeps Indonesian import costs for feed ingredients more stable. The outlook depends on the path of US rates.
businesstimes.com.sgFeb 28, 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.
