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Rupiah strengthens to 11,500 on Wednesday morning
The rupiah strengthened on Wednesday morning by 0
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The rupiah strengthened on Wednesday morning by 0.9 percent to 11,500 per US dollar.
This was its highest increase since July 7, while the rate itself was the strongest since May 21, kontan.co.id reported.
The strengthening of the rupiah was mainly driven by the General Elections Commission (KPU) announcement of the winner of the 2014 presidential election.
Joko 'Jokowi' Widodo and his running mate, Jusuf Kalla, won the election, garnering 53.15 percent of the total vote, leaving the Prabowo Subianto-Hatta Rajasa ticket with the remaining 46.85 percent.
Previously on Tuesday afternoon, the domestic currency closed on a negative note, weakening by 0.6 percent, after Prabowo announced his withdrawal from the election process. (nfo)
