Rupiah Climbs Most This Week Since February as Rupee Decline

Bareksa.com - The rupiah led gains in Asia and was set for its biggest weekly rally in five months on signs Joko Widodo won Indonesia’s presidential race, while South Korea’s won and India’s rupee declined.

“We can see a further rally after the final result, even if much of the expectation for Jokowi’s win has been priced in,” said David Sumual, chief economist at Bank Central Asia in Jakarta Globe. “The focus will turn to the new cabinet.”

Foreign money managers have plowed $4.4 billion into Indonesian shares since December, surpassing the full-year record, on optimism Joko will replicate nationally the success he had as Jakarta governor in cutting red tape and boosting investment.