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The rupiah strengthened against the US dollar in Jakarta interbank trading on October 31 after the Federal Reserve cut its benchmark rate by 25 basis points to 1.50%-1.75%. This was the Fed's third cut this year, taken amid sluggish US growth.
Bank Mandiri's analyst attributed the rupiah's gain to the lower Fed rate.
A weaker dollar after Fed easing eases pressure on Indonesia's import costs, including feed ingredients priced in dollars. The effect on grain and meal prices is small.
en.antaranews.comCitro Atmoko/SuhartoOct 31, 2019Not 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.
