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Indonesian rupiah weakens slightly after Jakarta election
April 20, 2017 / 1:52 AM / 8 months ago

Indonesian rupiah weakens slightly after Jakarta election

JAKARTA, April 20 (Reuters) - Indonesia’s currency weakened slightly on Thursday after polls showed that the incumbent governor of Jakarta had lost his bid for re-election by a big margin.

Analysts had expected markets to have a negative “knee-jerk reaction” to incumbent Basuki Tjahaja Purnama’s defeat, but said the investor attention would eventually return to the fundamentals.

The rupiah was last trading at 13,325 versus the U.S. dollar, 0.2 percent weaker than Tuesday’s close of 13,295. Indonesian markets were closed on Wednesday. (Reporting by Eveline Danubrata; Editing by Eric Meijer)

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