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The rupiah breached 16,000 per US dollar on Friday, its weakest level since the 1998 crisis, and was down more than 15% for the year. Bank Indonesia said it had spent Rp 163 trillion on government bond purchases and continues intervening in spot and non-deliverable forward markets to supply dollars.
Foreign investors had pulled Rp 105.1 trillion in capital since the start of the year.
A weaker rupiah raises the local-currency cost of imported feed ingredients such as soybean meal and corn, pressuring Indonesian feed millers and livestock margins. Dollar strength generally supports lower-priced exports from competing origins.
thejakartapost.comAdrian Wail Akhlas, Made Anthony IswaraMar 20, 2020Not enough comparable past events yet for a historical read.
After 73 past neutral macro events, Soybean Meal moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +2.1%), and -1.6% over 20.
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.
