The Indonesian rupiah surged in value this week against the world's reserve currency, spurred higher by two polling companies indicating the Jakarta governor won the country's presidential election, according to Bloomberg.
Though unofficial, the tally results of the firms stated Joko Widodo prevailed by about five percentage points. However, political rival Prabowo Subianto also claimed he won the national election. The country is slated to declare official election results later this month.
"The concern is the other side is still claiming he won," chief economist David Sumual with PT Bank Central Asia told the news outlet on Friday. "Whoever comes to power will quickly face the reality of the current-account and budget deficits."
The rupiah rose about 2.5 percent against the greenback this week, notching its sharpest increase in about five months. But, despite the weekly gains, the rupiah was minimally changed against the U.S. dollar during the Friday trade session.
In anticipation of tumult and uprising following the election, the Jakarta police chief said the department is on high alert, according to The Associated Press.
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