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Bank Indonesia Governor Agus Martowardojo said the rupiah's weakness on Thursday and Friday, which pushed it to around Rp 13,500 per dollar, stemmed from strengthening US data and expectations of a Federal Reserve rate hike on December 14. He said the volatility was temporary and not caused by protest concerns.
Expectations of Fed tightening keep the dollar strong, raising import costs for Indonesian feed buyers. The central bank's stance suggests intervention may limit further sharp falls.
antaranews.comIndra Arief PribadiNov 25, 2016Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
