# Indonesia's defences start crumbling against relentless dollar

> The Indonesian rupiah fell 2.5% in September, its largest monthly drop this year, and was more in line with Asian peers. Analysts and investors are raising alarms over dwindling currency reserves, rising debt obligations and foreign capital outflows.

- Date: 2022-10-17 · published 2022-10-17T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/39431-indonesia-s-defences-start-crumbling-against-relentless-dollar
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A weaker rupiah raises the local cost of imported feed ingredients such as soybean meal and corn, pressuring Indonesian feed buyers' margins and potentially reducing import demand.

## Read by commodity

- SBM: neutral
- USDIDR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-10-19 | [Indonesia c.bank unexpectedly raises rates amid falling rupiah \| Reuters](https://feedsoft.ai/events/33952-indonesia-c-bank-unexpectedly-raises-rates-amid-falling-rupiah-reuters.md) | +4.7% | +14.4% |
| SBM | 2026-02-19 | [Bank Indonesia holds rates steady, focus remains on 'undervalued' rupiah \| Reuters](https://feedsoft.ai/events/20906-bank-indonesia-holds-rates-steady-focus-remains-on-undervalued-rupiah-reuters.md) | +5.7% | +6.9% |
| SBM | 2020-06-24 | [India’s poultry sector starts road to recovery](https://feedsoft.ai/events/52754-india-s-poultry-sector-starts-road-to-recovery.md) | 0.0% | +0.1% |
| SBM | 2025-04-18 | [First week without the cepo: dollar rises and falls, impact on prices remains unclear - Buenos Aires Herald](https://feedsoft.ai/events/25433-first-week-without-the-cepo-dollar-rises-and-falls-impact-on-prices-remains.md) | -1.6% | -2.0% |
| SBM | 2023-07-25 | [Argentine IMF concessions risk further fueling red hot inflation](https://feedsoft.ai/events/35332-argentine-imf-concessions-risk-further-fueling-red-hot-inflation.md) | +0.7% | -7.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/europe/indonesias-defences-start-crumbling-against-relentless-dollar-2022-10-17/

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