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The rupiah rose to a monthly high above 14,400 per dollar as Indonesia's finance ministry outlined plans to cut the budget deficit to under 5% of GDP in 2022 and under 3% in 2023. A softer US dollar, with the DXY near 90.5, also supported the currency.
A firmer rupiah lowers the local cost of dollar-priced feed imports, which supports Indonesian buyers. Fiscal consolidation could also slow economic growth and feed demand later.
octaafrica.netApr 29, 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.
