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Bank Indonesia Governor Perry Warjiyo told CNBC at Davos that the rupiah is fundamentally undervalued and could strengthen further. He estimated foreign portfolio inflows of about $19.6 billion into Indonesian financial markets this year.
The rupiah has been roughly flat against the dollar so far in 2021 after losing 1.1% in 2020.
Expected foreign inflows and a firmer rupiah would lower the local-currency cost of dollar-priced feed ingredients for Indonesian buyers. The effect on global feed commodity prices is limited.
cnbc.comYen Nee LeeJan 26, 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.
