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The rupiah is the worst-performing Asian currency this year, partly because Bank Indonesia is buying 397.6 trillion rupiah of government bonds to help finance a larger deficit tied to COVID-19 spending. Investors are concerned about this debt monetization arrangement, which is likened to quantitative easing.
Currency weakness raises Indonesia's import costs for feed ingredients, which can support local feed prices. The story is primarily about monetary policy and currency risk rather than a direct change in commodity supply.
cnbc.comYen Nee LeeAug 21, 2020Not 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.
