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Wells Fargo forecasts the rupiah will gradually strengthen against the dollar, with USD/IDR seen at 14,400 in Q2, 14,300 in Q3 and 14,100 by Q1 next year. The bank flags downside risk from a more hawkish Fed, given dollar-denominated government debt and foreign holdings of sovereign bonds.
A forecast of a firmer rupiah lowers Indonesia's import costs for feed ingredients, but the Fed risk highlighted could reverse that, adding volatility for buyers.
octaafrica.netJun 25, 2021Not 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.
