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The rupiah traded near 14,140 per dollar on June 18 and was awaiting Bank Indonesia's rate decision, with a 25 basis point cut widely expected. Traders also cited a rise in COVID-19 cases in parts of the United States, slower-than-hoped vaccine news, and US-China tensions.
The Indonesian government and the Asian Development Bank had both cut their growth forecasts.
Expected rate cuts and risk-off sentiment can weaken the rupiah and increase the cost of imported feed inputs for Indonesian buyers. The direct effect on global commodity prices is small.
octaafrica.netJun 18, 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.
