A Good Start amidst the Middle East Escalating Tension - Market Pulse - magz.tempo.co

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A Good Start amidst the Middle East Escalating Tension

Monday, January 13, 2020

UNEXPECTEDLY the rupiah appreciated when the situation in the Middle East is escalating.

Teller counts rupiah in Bank BNI KCP Tubagus Angke, Grogol Petamburan, DKI Jakarta, Friday (03/01/2020). After the floods that hit various areas of DKI Jakarta, banking services affected by floods returned to normal operations. ANTARA PHOTOS / Nova Wahyudi / aww.. tempo : 171391620421.

On Friday, January 10, the rupiah exchange rate soared to Rp13,773 per US dollar, the strongest position since April 2018. Various positive factors in the start of 2020 seems to have banished the negative energy that spread when the US-Iran conflict peaked after the assassination of General Qassim Soleimani on January 3.

The rupiah’s appreciation is not unrelated to the de-escalation of conflict. Iran retaliated by firing missiles

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