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Bank Indonesia deputy governor Mirza Adityaswara said the rupiah's recent weakness was driven mainly by external factors, chiefly expected Federal Reserve rate hikes. The rupiah had fallen to its weakest level since July 2016 at Rp 13,609 per dollar on October 27, and dollar demand from multinationals paying dividends and dollar debts added pressure.
A weaker rupiah raises the local-currency cost of imported feed ingredients such as soymeal and corn, squeezing margins for Indonesian feed millers. Continued dollar strength would keep import costs elevated.
money.kompas.comPramdia Arhando JuliantoOct 31, 2017Not enough comparable past events yet for a historical read.
After 73 past neutral macro events, Soybean Meal moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +2.1%), and -1.6% over 20.
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.
