Rupiah vol ahead as elections continue

“There’s been a lot of relief in the market concerning the election; that it was relatively peaceful and the lead candidate is what the markets would like to see – and that’s been reflected in recent strength in the rupiah,” said Sing Ben, economist at JP Morgan Chase in Singapore.

Despite a weaker than expected initial result, poll favourite Susilo Bambang Yudhoyono led the elections, held on July 5, gaining 34% of the 36% of votes counted by last Wednesday, followed closely by incumbent Preside