VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The interbank rupiah exchange rate (exchange rate) in Jakarta is predicted to continue strengthening following Joe Biden's victory in the US presidential election. The rupiah moved up 53 points or 0.38 percent to Rp 14,157 per US dollar compared to the previous day's Rp 14,210 per US dollar.

Head of Research and Education at Monex Investindo Futures Ariston Tjendra said that Biden's victory seemed to have been greeted positively by the price of risky assets in Asia this morning.

"The Asian stock index looks strong, the US dollar index looks depressed, the emerging market exchange rate looks stronger against the US dollar," said Ariston in Jakarta, Monday (9/11/2020).

Ariston further revealed that the market expects Biden's policies will be friendlier to other countries than its predecessors and this could help boost economic growth in developing market countries.

It is known that Biden won over Trump with 273 electoral college votes compared to 214 through state by state that determines the winner of the election.

This was achieved after Biden won Pennsylvania's 20 electoral votes to place him above 270, the number needed to secure the presidency, according to Edison Research.

Ariston estimates that today the rupiah has the potential to strengthen in the range of Rp. 14,150 per US dollar to Rp. 14,300 per US dollar.