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Bank Indonesia deputy governor Aida Budiman described a 'cash is king' phenomenon, in which investors hold US dollars as a safe haven. The rupiah fell nearly 1% to 15,260 per dollar on Wednesday, and the dollar index has risen more than 19% this year.
Safe-haven dollar demand driven by Fed tightening and recession fears keeps emerging-market currencies under pressure. That raises import costs for Indonesian feed buyers.
cnbcindonesia.comPutu Agus PransuamitraSep 29, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
