Rupiah Strengthens Amid Optimism Over Potential US-Iran Peace Agreement

Jakarta (ANTARA) - The rupiah exchange rate strengthened by 42 points or 0.24 percent to Rp17,126 per US dollar on Tuesday morning from the previous close at Rp17,168 per US dollar.

Currency analyst Lukman Leong from Doo Financial Futures stated that the rupiah’s strengthening was triggered by optimism over a peace agreement between the US and Iran.

“The rupiah has the potential to strengthen against a weakening US dollar and falling global crude oil prices due to optimism that a peace agreement could be reached after Iran considers attending peace talks with the US,” he told ANTARA in Jakarta on Tuesday.

A Sputnik report revealed that US President Donald Trump stated that his representatives were heading to Islamabad, Pakistan, to participate in negotiations regarding Iran.

However, as reported by Anadolu, Iran’s Foreign Ministry Spokesman Esmaeil Baqaei said that Iran has no plans to hold a new round of talks with the US and does not accept any deadlines or ultimatums in pursuing its national interests.

The statement came as two Pakistani sources familiar with the mediation process told Anadolu that an Iranian delegation would attend the second round of talks with the US.

“Investors are simply optimistic about the peace negotiations, while Iran’s willingness to negotiate remains unclear. There are reports suggesting Iran will consider it, and others saying it still rejects. The market is more confident about the negotiations taking place,” Lukman explained.