The rupiah rose the most among Asian currencies as local stocks and bonds advanced on speculation official election results due this week will confirm Joko Widodo as Indonesia’s next president.
Widodo, popularly known as Jokowi, secured 52.9 percent of the 129 million votes tallied by KawalPemilu.org yesterday, a volunteer-run website that tracks actual results uploaded to the election commission’s website. Prabowo Subianto, who won 47.1 percent of support, wants the official tally halted on alleged evidence of fraud, his team’s spokesman Idrus Marham said yesterday. The final result is due as late as tomorrow.
“The consensus is for the result to show Jokowi to win and the baseline scenario is for a smooth transition,” said Saktiandi Supaat, head of foreign-exchange research at Malayan Banking Bhd. in Singapore. “If that doesn’t pan out, the move will unravel a bit.”
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.