Rupiah strengthens following presidential election quick vote count

Rupiah strengthens following presidential election quick vote count

Jakarta (ANTARA) - The exchange rate of the rupiah being transacted among banks in Jakarta on Thursday morning strengthened after the quick vote count of the presidential elections on Wednesday, April 17, which put presidential candidates number 01 Joko Widodo-Ma’ruf Amin in the lead.

“This victory was factored in the market. However, the market will still respond positively even if this victory is only temporary,” Economist at PT Samuel Aset Manajemen, Lana Soelistianingsih, stated here on Tuesday.

Indonesia’s voting ended yesterday and the quick vote count result has shown that presidential candidates number 01 would lead with a 53-56 vote percentage above presidential candidates 02 Prabowo Subianto-Sandiaga Uno.

According to the results, Joko Widodo is estimated to renew his term in office for the next five years.

Soelistianingsih noted that there would be no significant change in the economic planning for the next five years, but the policy might no longer focus on infrastructure development.

During the presidential rally, pair number 01 had promised that there would be pre-employment incentives aimed at providing job training to the unemployed.

Social assistance will also be increased by enabling a new program called the Smart Indonesian Card (KIP) for college students from poor economic circles

“The rupiah will potentially strengthen around Rp13,950 until Rp14,000 per US dollar,” Soelistianingsih said.

This morning, the rupiah moved up 75 points or 0.53 percent to Rp14,010 per US dollar compared to the previous rate at Rp14,085 per US dollar.  

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