Rupiah opens weaker at Rp17.995 per dollar, near 18,000

The rupiah weakened again on Thursday morning and opened at Rp17.995 per U.S. dollar, down 28.5 points from the previous close of Rp17.966. A day earlier, the Garuda currency had briefly touched Rp17.926 per U.S. dollar after opening at Rp17.878. Money market analyst Ibrahim Assuaibi said pressure came from higher global oil prices amid Iran-Israel tensions and stalled U.S.-Iran talks. He noted WTI at 94.58 U.S. dollars per barrel and Brent at 96.72 U.S. dollars. Higher energy prices were seen strengthening the U.S. dollar as markets expect the Fed to keep interest rates elevated for longer. At home, demand for dollars to pay for energy imports, dividends and maturing debt obligations is also weighing on the rupiah.