{
  "id": 9288987,
  "title": "South Korean won, rupiah advance; other Asia FX range-bound on Iran deal uncertainty",
  "url": "https://urgent.news/2026/09/23/south-korean-won-rupiah-advance-other-asia-fx-range-bound-on-iran",
  "topic": "world",
  "section": "World",
  "published": "2026-09-23T06:44:59.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/09/1539194/south-korean-won-rupiah-advance-other-asia-fx-range-bound-iran"
  },
  "original_language": "en",
  "account": "The South Korean won intensified its rally for a third consecutive session, while the Indonesian rupiah strengthened ahead of a central bank decision on Wednesday. These two Asian currencies emerged as notable performers amid generally flat market movements, as traders assessed the uncertain outlook for US-Iran negotiations. The Korean won surged by as much as 50 basis points, aiming to recoup most of its losses from the previous week. Over the past year, the won has gained over 6%, driven by a widening current account surplus and capital inflows stimulated by the AI trade. Its performance has surpassed that of most other emerging Asian currencies, as robust global demand for memory chips and semiconductors continues to bolster export revenues. Financial market strategist Inki Cho noted that South Korea benefits from a unique currency support narrative that other countries lack. The Indonesian rupiah climbed 0.4% to 17,788, ahead of Bank Indonesia's upcoming policy meeting, where it is expected to maintain its interest rate at 5.75%. The central bank raised rates by 100 basis points between May and June to stabilize the rupiah, which had been plummeting. However, with recent stability and inflation staying on target, policymakers may choose to hold rates steady for now. Analysts anticipate another quarter-point hike later in the year. Despite the positive moves, MSCI's gauge of emerging market currencies remained nearly flat, as the prospect of near-term interest rate hikes in the region increased the dollar's strength, keeping local currencies under pressure. The currencies of net oil importers, such as the Philippines and India, remained stable despite a gradual decline in oil prices following Saudi Arabia's announcement that it had resumed operations at the East-West Pipeline. Market participants are eagerly awaiting a clearer indication of whether the US-Iran situation leads to a lasting de-escalation.",
  "summary": "SINGAPORE: The South Korean won extended its rally into a third session and the Indonesian rupiah firmed ahead of a central bank decision on Wednesday, standing out among mostly subdued Asian currencies as markets weighed uncertain prospects for US-Iran peace talks.",
  "key_points": [
    "South Korean won rallies 50 basis points, aiming to recover losses",
    "Indonesian rupiah strengthens ahead of Bank Indonesia decision",
    "MSCI gauge of emerging market currencies remains nearly flat"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}