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Indonesia's rupiah strengthened 0.98% to 14,269 per US dollar on May 31, 2019, after S&P raised the country's sovereign rating to BBB from BBB-. The Jakarta Composite Index rose 1.72% that day.
Analysts expect continued support next week, though the domestic market closes for the Lebaran holiday.
A sovereign upgrade lifts foreign portfolio appetite for Indonesian assets and firms the rupiah, which lowers the local-currency cost of imported feed ingredients such as soymeal and corn-based inputs.
investasi.kontan.co.idYusuf Imam SantosoMay 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.
