# Indonesian rupiah falls to record low amid rising pressures | The Straits Times

> The Indonesian rupiah fell to a record low of Rp 15,000 per US dollar on October 2, the weakest since the 1998 financial crisis. Analysts attributed the drop to the US-China trade war and rising global oil prices, and Bank Indonesia has raised rates five times since May to defend the currency.

- Date: 2018-10-03 · published 2018-10-03T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/62836-indonesian-rupiah-falls-to-record-low-amid-rising-pressures-the-straits-times
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Currency weakness and higher oil prices increase Indonesia's trade deficit and import costs, which can reduce purchasing power for feed ingredients and weigh on palm oil and soybean meal demand from the region.

## Read by commodity

- BRENT: bullish ▲
- USDIDR: bullish ▲
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-06-28 | [Indian rupee hits record low against US dollar; RBI intervenes - The Business Times](https://feedsoft.ai/events/64797-indian-rupee-hits-record-low-against-us-dollar-rbi-intervenes-the-business-times.md) | +0.7% | -4.0% |
| BRENT | 2026-03-23 | [Indian rupee hits record low as prolonged oil spike pressures economic outlook \| Reuters](https://feedsoft.ai/events/20449-indian-rupee-hits-record-low-as-prolonged-oil-spike-pressures-economic-outlook.md) | +1.5% | -13.8% |
| BRENT | 2026-05-01 | [Rupee's slide to record low puts Indian central bank back on the defensive](https://feedsoft.ai/events/20006-rupee-s-slide-to-record-low-puts-indian-central-bank-back-on-the-defensive.md) | -15.2% | -22.3% |
| BRENT | 2023-09-28 | [Indian rupee poised to test record low as oil prices, US yields climb - Markets - Business Recorder](https://feedsoft.ai/events/34393-indian-rupee-poised-to-test-record-low-as-oil-prices-us-yields-climb-markets.md) | -9.3% | -6.9% |
| BRENT | 2023-10-30 | [India rupee likely to struggle despite relief for Asian peers - Markets - Business Recorder](https://feedsoft.ai/events/33909-india-rupee-likely-to-struggle-despite-relief-for-asian-peers-markets-business.md) | -4.9% | -11.5% |
| PALMOIL | 2024-07-01 | [Indian Rupee Hits Record Low as Broad Dollar Strength Weighs](https://feedsoft.ai/events/30073-indian-rupee-hits-record-low-as-broad-dollar-strength-weighs.md) | +3.0% | +1.6% |
| PALMOIL | 2021-08-19 | [Falling oil prices increase pressure on oilseed markets](https://feedsoft.ai/events/11363-falling-oil-prices-increase-pressure-on-oilseed-markets.md) | +0.3% | +2.3% |
| PALMOIL | 2024-12-23 | [Navigating The Volatility Of The Malaysian Ringgit Amid US Fed Policies - BusinessToday](https://feedsoft.ai/events/27224-navigating-the-volatility-of-the-malaysian-ringgit-amid-us-fed-policies.md) | +1.0% | -9.9% |

## Sources

- straitstimes.com: https://www.straitstimes.com/asia/se-asia/indonesian-rupiah-falls-to-record-low-amid-rising-pressures

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