# EM Asia FX: Rupiah leads Asia FX short-covering; won up after central bank holds rates

> The Indonesian rupiah led gains among emerging Asian currencies as investors covered short positions, while the South Korean won strengthened after the Bank of Korea held its policy rate at 2.50% for an eighth consecutive month. The baht and ringgit also gained, though the currencies' advances faced pressure from a strong dollar and other local factors.

- Date: 2026-11-09 · published 2026-11-09T00:11:58.704Z
- Category: market · region Emerging Asia · magnitude low
- Page: https://feedsoft.ai/events/88263-em-asia-fx-rupiah-leads-asia-fx-short-covering-won-up-after-central-bank-holds
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Currency moves can affect the local cost of imported feed and other commodities, but this report describes short-covering and routine FX trading rather than a direct change in agricultural supply or demand.

## Read by commodity

- USDIDR: bearish ▼
- USDKRW: bearish ▼
- USDMYR: bearish ▼
- USDTHB: bearish ▼

## Sources

- theedgemalaysia.com: https://theedgemalaysia.com/article/em-asia-fx-rupiah-leads-asia-fx-short-covering-won-after-cbank-holds-rates

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