Since the tension between the U.S and Iran reached "to be continued", IDR can breathe a sigh of relief.

Stalled conflict between the U.S and Iran, IDR rises to Rp13,932/USD

On Tuesday’s foreign exchange (forex) spot market opening, the Indonesian Rupiah (IDR) is seen at Rp13,932 against the U.S Dollar (USD). The rate strengthened by 0.08 percent compared to Monday’s closing rate at Rp13,944/USD. For today, IDR is moving around Rp13.900 - Rp14.000/USD.

Following yesterday, the majority of currencies in Asia – ASEAN regions strengthened against the USD. Reportedly, S. Korean Won (KRW) strengthened by 0.60 percent, Malaysian Ringgit (MYR) by 0.07 percent, Thai Baht (THB) by 0.03 percent, and Singaporean Dollar (SGD) by 0.01 percent against the USD.

Nonetheless, Hong Kong Dollar (HKD) and Japanese Yen (JPY) both weakened by 0.05 percent, and Turkish Lira (TRY) by 0.02 percent against the USD.

The currencies in the developed country regions reacted variously to the USD. Great Britain Pound sterling (GBP) and the Canadian Dollar (CAD) strengthened by 0.05 percent and 0.03 percent respectively against the USD.

On the other hand, the Australian Dollar (AUD) and the European Union Euro (EUR) weakened by 0.13 percent and 0.06 percent respectively against the USD.

Indonesian forex experts stated that the IDR’s strengthening was caused by the “To be continued” conflict between the United States (U.S) and Iran. Since there was no escalation in the conflict, IDR advances to below Rp14,000/USD.

Moreover, the White House revised the statement from the President of the U.S, Donald Trump, saying that Washington would destroy Iranian cultural sites if Tehran retaliated. The market player denied the chance that Iran would attack U.S military bases in the Middle East since it would only disrupt the crude oil export.

Source: https://bit.ly/2Fq4OKb