TEMPO.CO, Jakarta - The rupiah closed with a 43-point correction. On Wednesday, November 9, the garuda moved between Rp13,052 and Rp13,259 before taking a 0.33- percent to close at Rp13,127 per US dollar.
Bank Permata economist Josua Pardede said that currency markets panicked as they witnessed this morning's development of the US presidential elections.
Donald Trump has been elected as America's new president replacing Barack Obama. On 14:47 Jakarta time, Bloomberg.com reported that Trump gained 276 over Hillary Clinton's 218.
"The index dropped. Global [investors] ran to safe havens. The market also panicked and ran towards safe havens," Josua said today as reported by Bisnis Indonesia.
Almost all Southeast Asian currencies weakened. The Singapore dollar fell 0.32 percent, the Malaysian ringgit lost 0.63 percent, and the Filipina peso was corrected 0.08%. The Thailand baht was the only regional currency that managed to close in the green zone with a 0.07-percent gain.
Meanwhile, the US dollar index weakened 0.638 points or by 0.65 percent to 97.223 as per 15:59 Jakarta time. The dollar index took a dive earlier today to 95.885.