Loading…
On Friday, February 28, 2020, the rupiah weakened 0.73% to 14,127 per US dollar, its lowest level since October 18, 2019. Bank Indonesia intervened by buying government bonds worth Rp2 trillion (about US$141 million) and by adding dollar supply.
The moves followed investor selling of currency, stocks and bonds over coronavirus concerns.
A weaker rupiah raises the local cost of imported feed inputs such as soymeal and corn, and of imported ingredients used in Indonesian feed mills. Central bank intervention may limit the move but does not remove the pressure.
market.bisnis.comHafiyyanFeb 28, 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.
