Asian currencies fall sharply amid Iran-US tensions

Asian currencies recorded a sharp decline amid rising tensions between Iran and the United States.

According to details, the Indonesian rupiah fell to its lowest level against the US dollar, reaching 17,315 per dollar, dealing a significant blow to the country’s economy. The Philippine peso slipped to a two-week low, while Thailand’s baht also recorded a decline during the current month. Tensions in the Gulf and the situation in the Strait of Hormuz affected Asian markets.

Meanwhile, the Pentagon stated that the clearance of mines from the Strait of Hormuz could take up to six months and is likely to begin only after the end of any conflict between the United States and Iran. Officials said the removal of mines after a war would require considerable time.

A senior official told Congress that some of the mines were deployed remotely using GPS technology, making it difficult for US forces to detect them during installation.