The Indonesian rupiah fell sharply to a record low of 17,315 per U.S. dollar on Thursday, as elevated oil prices due to the Iran war, and persistent fiscal and governance worries drive foreign investors away from the Southeast Asian country.

Emerging market Asian currencies were broadly weaker against the U.S. dollar: the Philippine peso slipped to 60.524 per dollar for the first time in more than two weeks, and the Thai baht fell to 32.44 per dollar, the lowest since April 8.