FxWirePro: Indonesian Rupiah falls as violence grip country after election announcement

Indonesian Rupiah continues to fall,

• As the country struggles to cope with the latest spark of political violence after the election commission announced that incumbent President Joko Widodo has won the closely contested election. However, the result was not as close as it was expected to be. Mr. Widodo got re-elected with 55 percent of the votes.
• Thousands of protesters thronged near the Elections Oversight Body on Jakarta's main thoroughfare, Jalan Thamrin, in the morning and early afternoon with crowds growing by the hour. Police shut off access to the office with rolls of barbed wire and heavy cement barricades.
• The demonstrators were largely supporters of presidential candidate and former military general Prabowo Subianto and they claimed widespread fraud took place before, during and after the election. According to reports, so far six people have been killed in the violence.

Since the election, largely due to political tensions in the country, Indonesian Rupiah has declined 3.7 percent against the USD and today it reached 14520 per USD, the worst level since December 2018.