# Indonesia back to intervention as currency drops most since June - Gulf Times

> Bank Indonesia intervened in currency and bond markets after the rupiah fell as much as 1.2% to 14,570 per US dollar, its biggest intraday drop since June. The central bank called the depreciation temporary and a reaction to a global stock selloff.

- Date: 2018-12-06 · published 2018-12-06T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/61863-indonesia-back-to-intervention-as-currency-drops-most-since-june-gulf-times
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md)

## Why it matters

A weaker rupiah makes US dollar purchases of Indonesian goods more expensive in local currency terms, which can affect the cost of importing feed ingredients and the competitiveness of palm oil exports.

## Read by commodity

- USDIDR: bullish ▲

## Sources

- gulf-times.com: https://www.gulf-times.com/story/615433/indonesia-back-to-intervention-as-currency-drops-most-since-june

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.