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Bank Indonesia's deputy governor said on February 28, 2020, that financial markets were jittery because of the spreading Covid-19 outbreak. Investors were moving money into safe assets such as the US dollar and gold.
The rupiah had fallen 4.6% since the prior Wednesday, to 14,234 per US dollar at the morning central-bank rate, and the central bank said it would smooth its moves.
A sustained 4.6% depreciation over a week lifts the cost of imported soymeal, corn and premixes for Indonesian feed producers. The central bank's smoothing efforts may limit further losses but are unlikely to reverse the trend quickly.
u.aa.com.trUmar IdrisFeb 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.
