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Indonesian rupiah depreciates following riots

The depreciation of the Indonesian rupiah against the US dollar on May 22 was blamed on the riots that followed after incumbent President Joko Widodo had been declared winner of the presidential election.
Indonesian rupiah depreciates following riots ảnh 1The Indonesian rupiah dropped to 14,488 IDR per USD on May 22 (Photo: AFP/VNA)

Jakarta (VNA) – The depreciation of the Indonesianrupiah against the US dollar on May 22 was blamed on the riots that followedafter incumbent President Joko Widodo had been declared winner of thepresidential election.

The rupiah dropped to 14,488 IDR per USD on May22 from 14,462 IDR per USD on the previous day.

An analyst of Monex Investindo Futures said thepolitical situation has brought great uncertainty, adding that the rupiah isexpected to weaken further.

Executive Chairman of Sucorinvest AssetManagement Jemmy Paul said investors felt uneasy over the impact of theannouncement of the presidential election, and the security and politicalinstability will cloud trading in the coming days and next week, he said.

Meanwhile, PT Garuda Berjangka’s President DirectorIbrahim stressed that although the General Election Commission has nowannounced the winner of the presidential election, political tensions have noteased.

Security risks are still high, which causesconcern for investors, Ibrahim said.–VNA
VNA
#Indonesian rupiah #depreciation of the Indonesian rupiah #President Joko Widodo #Indonesia's presidential election #riots in Indonesia #political tensions in Indonesia #updated Vietnam news #Vietnamplus #Vietnam News Agency Indonesia
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