The Indonesian rupiah rallied on speculations that the presidential candidates are going to announce their vice presidential nominee today. The general market sentiment was also positive for the currency.
The candidates for presidency are expected to name their running mates today. This should reduce political uncertainty, improving the investment climate for rupiah. The market sentiment was in a risk-on mode, providing additional support for currencies of emerging markets.
USD/IDR declined from 11,540 to 11,447 as of 11:39 GMT today.
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