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Bank Indonesia said it intervened in spot and domestic NDF markets to stabilise the rupiah after the Argentine peso fell 14.5% to 53 per dollar on August 13 following Argentina's presidential primary. The central bank also prepared to intervene in secondary government bond markets.
The rupiah had been depreciating steadily amid global emerging-market sentiment.
Emerging-market currency stress raises import costs for Indonesian feed makers and can drive capital outflows. The Argentine shock also signals wider risk for South American grain and meal exporters' pricing.
antaranews.comIndra Arief PribadiAug 13, 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.
