Jakarta \u2014 Currency analyst Lukman Leong of Doo Financial Futures\nprojects the Indonesian rupiah will weaken on Monday 2 March following\nmilitary escalation between Iran and the United States.<\/p>\n
The rupiah is forecast to move in the range of Rp16,750-Rp16,900 per\nUS dollar. The weakening of the rupiah is attributed to market\nparticipants\u2019 tendency to avoid risky assets and shift funds towards\nsafer investments.<\/p>\n
\u201cThe rupiah is expected to weaken and move volatile against the US\ndollar amid risk-off sentiment from the Middle East conflict\nescalation,\u201d Lukman told Antara news agency in Jakarta on Monday.<\/p>\n
However, he added that Bank Indonesia is expected to intervene soon\nto stabilise the currency.<\/p>\n
The rupiah opened Monday trading in Jakarta down 42 basis points, or\n0.25 per cent, at Rp16,829 per US dollar compared with Friday\u2019s close of\nRp16,787 per dollar.<\/p>\n
It was previously reported that on Saturday morning 28 February local\ntime, the United States and Israel launched a series of attacks on Iran,\nincluding strikes on the capital Tehran, resulting in infrastructure\ndamage and civilian casualties.<\/p>\n
Iran subsequently launched retaliatory missile strikes on Israeli\nterritory and US military facilities in the Middle East.<\/p>\n
Iran\u2019s Supreme Leader Ali Khamenei was confirmed killed in a\nUS-Israeli missile strike on his workplace.<\/p>\n
Following Khamenei\u2019s death, the Iranian government announced a 40-day\nmourning period and one week of work suspension.<\/p>\n
The Islamic Revolutionary Guard Corps (IRGC) and the Iranian Armed\nForces, in a written statement, vowed to retaliate for Khamenei\u2019s\ndeath.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/rupiah-projected-to-weaken-monday-amid-us-iran-conflict-1772427752", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }