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The rupiah closed weaker at Rp15,663 per dollar on 17 November after Bank Indonesia raised its benchmark rate 50 basis points to 5.25%. Analysts said domestic concerns about slowing economic activity, reflected in slower-than-expected import growth, outweighed the rate hike.
The central bank described the move as a front-loaded step to lower inflation expectations.
A weaker rupiah raises the cost of imported feed ingredients for Indonesian buyers, while higher rates may slow domestic livestock and feed demand. The net effect is higher landed costs and softer local demand.
investor.idGrace El DoraNov 17, 2022Not 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.
