According to CoinMeta, the Indonesian rupiah exchange rate against the US dollar fell below the 18,000 mark on Tuesday, reaching 18,010, the lowest level since August 4th. Affected by a variety of factors such as rising global bond yields, tensions between the United States and Iran, and increasing oil prices, Asian currencies are generally under pressure. Overnight, the yield on 10-year US Treasury bonds soared above 5.27%, hitting a 19-year high, while the US dollar remained near its two-month high, and oil prices continued to rise. The chief economist of Indonesia’s central bank, Fakhrul Fulvian, stated that the weakening of the Indonesian rupiah is mainly due to external factors, especially the push from rising global long-term bond yields. The central bank’s “large-scale” bond purchases are also one of the influencing factors. He said, “If yields are pushed lower than what private investors expect, the pressure for adjustment may shift to the exchange rate.”