Indonesian rupiah rises as local election results ease political concerns

The Indonesian rupiah rose on Thursday as local election results reduced concerns about political uncertainty. Candidates supported by President Prabowo Subianto are expected to win key regional elections, which may facilitate his political agenda. In contrast, the Malaysian ringgit fell by about 0.1% against the dollar. This decline followed a report showing a 2.4% drop in the country's producer price index for October, marking the largest decrease since June 2023. Additionally, the Bank of Korea cut interest rates unexpectedly for the second time, responding to stagnant economic growth and lower-than-expected inflation.