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The rupiah weakened past 14,000 per dollar in the week to July 26, 2019, becoming Asia's weakest currency. Strength in the US dollar index, which reached a two-month high near 98, drove the move, and the IMF cut its growth forecasts for five ASEAN economies including Indonesia.
A weaker rupiah and a stronger dollar raise the local cost of dollar-priced feed imports, and the IMF downgrade adds pressure on Indonesian demand.
seputarforex.orgMartinJul 29, 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.
