# Currency of Indonesia Update: Rupiah Feels Impact of Powell Speech | Indonesia Investments

> The rupiah weakened 0.53% to 13,751 per US dollar on February 28, its weakest level against the greenback in about two years. The move followed Federal Reserve Chair Jerome Powell's hawkish first congressional testimony, which lifted the dollar to a three-week high. Markets now expect three Fed rate hikes this year, starting in March.

- Date: 2018-02-28 · published 2018-02-28T12:00:00.000Z
- Category: macro · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/66812-currency-of-indonesia-update-rupiah-feels-impact-of-powell-speech-indonesia
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md)

## Why it matters

A firmer dollar and weaker rupiah raise the local-currency cost of imported feed ingredients such as soymeal and corn for Indonesian buyers. Expected Fed tightening keeps pressure on emerging-market currencies.

## Read by commodity

- USDIDR: bullish ▲

## Sources

- indonesia-investments.com: https://www.indonesia-investments.com/news/todays-headlines/currency-of-indonesia-update-rupiah-feels-impact-of-powell-speech/item8628

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