Rupiah weakens slightly after Jakarta election

The rupiah was last trading at 13,325 versus the US dollar, 0.2 per cent weaker than Tuesday's close of 13,295. Indonesian markets were closed on Wednesday.
The rupiah was last trading at 13,325 versus the US dollar, 0.2 per cent weaker than Tuesday's close of 13,295. Indonesian markets were closed on Wednesday.PHOTO: BLOOMBERG

JAKARTA (REUTERS) - Indonesia's currency weakened slightly on Thursday (April 20) 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 US dollar, 0.2 per cent weaker than Tuesday's close of 13,295. Indonesian markets were closed on Wednesday.