# Indonesia president, citing trade war, says country needs dollars now

> Indonesian President Joko Widodo told ministers to make serious efforts to build foreign exchange reserves, saying 'the country needs dollars now.' He cited pressure from the global trade war, and the central bank has spent about $12 billion defending the rupiah, which is down roughly 6% this year.

- Date: 2018-07-31 · published 2018-07-31T12:00:00.000Z
- Category: macro · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/64362-indonesia-president-citing-trade-war-says-country-needs-dollars-now
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md)

## Why it matters

Currency stress raises Indonesia's import costs for feed ingredients and fuel, and it may push the government toward export-earnings and biofuel policies. That supports demand for dollar-priced imports while pressuring local buyers.

## Read by commodity

- USDIDR: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2018/07/31/indonesia-president-citing-trade-war-says-country-needs-dollars-now.html

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