# Indonesian rupiah gains, stocks drop as GDP fuels rate hike view - Markets - Business Recorder

> The rupiah gained for a second session on 8 November after Indonesia reported its fastest growth in over a year in third-quarter figures. Jakarta stocks fell as analysts expected strong growth to push Bank Indonesia toward more aggressive rate hikes. The rupiah remains down nearly 10% against the dollar this year.

- Date: 2022-11-08 · published 2022-11-08T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/38986-indonesian-rupiah-gains-stocks-drop-as-gdp-fuels-rate-hike-view-markets
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md)

## Why it matters

Expectations of higher Indonesian rates support the rupiah, which lowers the local cost of imported feed ingredients. Strong domestic demand also points to sustained feed demand in Indonesia.

## Read by commodity

- USDIDR: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40207679

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