The Indonesian rupiah and other Asian currencies weakened due to ongoing geopolitical risks.
Amid continued geopolitical risks, the Indonesian rupiah and other Asian currencies weakened against the US dollar in trading. Two foreign exchange strategists at OCBC Bank Group's research department stated in a report that the outcome of the US-Iran conflict and its ceasefire remains uncertain. The strategists wrote, "Mediators are trying to arrange a US-Iran meeting on Friday, but Iranian officials have stated that negotiations will not begin until the US lifts sanctions." According to data from the London Stock Exchange Group, the US dollar rose 0.8% against the Indonesian rupiah to 17,308 rupiah, hitting an intraday high of 17,315 rupiah earlier. The US dollar also rose 0.6% against the Philippine peso to 60.444 pesos, and 0.4% against the Thai baht to 32.35 baht.
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