Indonesian Rupiah Weakens Amid Bank Indonesia Governor Resignation

The Indonesian Rupiah (IDR) weakened against the US Dollar (USD), with the USD/IDR pair hovering around 18,050 during Asian hours on Monday.

This comes after Bank Indonesia Governor Perry Warjiyo's surprise resignation, which has rattled investors and reignited concerns over central bank independence.

Senior Deputy Governor Destry Damayanti has taken over as interim governor, citing personal reasons for Warjiyo's departure.

The USD/IDR pair's upside may be limited, however, as the US Dollar itself falls sharply due to easing geopolitical tensions following a weekend pause in military hostilities between the US and Iran.