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The rupiah traded around 14,385 per dollar on May 20, 2021, with little clear direction. Indonesia reported a April trade surplus of $2.19 billion, with exports and imports both stronger than expected, and the finance minister proposed a 2022 budget with a rupiah assumption of 13,900 to 15,000.
A stronger trade surplus supports the rupiah, but Fed tapering talk and risk-off sentiment offset that effect. Currency moves like this affect the cost of Indonesian imports such as soybean meal and wheat, though the net pressure is small.
octaafrica.netMay 20, 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.
