Rupiah Weakens as MK Holds Hearing for Prabowo Election Dispute



Laila Afifa

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  • Rupiah. TEMPO/Tony Hartawan

    Rupiah. TEMPO/Tony Hartawan

    TEMPO.CO, Jakarta - The Constitutional Court (KM) is having the first hearing on the election dispute filed by presidential candidate Prabowo Subianto today, June 14. Prabowo's campaign team, known as BPN, challenges the official tally announced by the Elections Committee (KPU), citing electoral fraud and accusing the other party of cheating.

    KPU's calculation determined that Joko "Jokowi" Widodo and his running mate Ma'ruf Amin won the presidential election with over 85.6 million votes or 55.5%. Prabowo and his running vice candidate Sandiaga Uno got over 68.6 million votes or 44.5 percent. 

    Prabowo's camp disputed the tally, saying that the election was rigged "structurally, systematically, and massively".

    With the start of the hearing, the rupiah exchange rate is expected to continue correcting, trading between Rp14,245 and Rp14,285 per US dollar.

    The rupiah also plummeted on May 22, when mass protests that led to riots happened in Jakarta. The rupiah at the time lost 0.17 percent.

    On Thursday, the rupiah depreciated as investors lost interest in risky assets related to sluggish global economies. Bloomberg showed the rupiah closing yesterday's trade at Rp14,280 per US dollar, down 0.27% from Wednesday.