SUN Benchmark Mixed Amid Rupiah Volatility. Previously, the depreciation of the rupiah exchange rate due to tensions between Russia and Ukraine, made market players interested in the safe haven of the United States (US) dollar compared to the exchange rates of emerging market countries. This was influenced by the decision of US President Joe Biden, announcing sanctions against Russia. The US is targeting Russian financial institutions after President Vladimir Putin recognized the sovereignty of several regions in Eastern Ukraine.
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