The Iran War may lead to currency depreciation and rising bond yields in multiple Asian countries

According to a report by Jin Shi, the Iran War is putting pressure on emerging markets in Asia, with some currencies and bond yields reaching extreme levels. Analysts predict that the Indian rupee will depreciate to 100 against the US dollar, the Indonesian rupiah will fall to 18000, and the Philippine peso will depreciate to 65. High energy prices will exacerbate inflation and impact economies that rely on imports. The benchmark bond yield in India may test the 2022 high, while the yield in the Philippines may rise to a multi-year high of 8%.