Indonesian stocks opened lower on Monday following the resignation of Bank Indonesia Governor Perry Warjiyo, as investors monitored the potential implications for the country’s monetary policy.

The Jakarta Composite Index (JCI) fell 11 points, or 0.17%, to 6,185 at the opening bell. During the first 10 minutes of trading, the benchmark index fluctuated between 6,154 and 6,213 points.

Trading volume reached around 4 billion shares, with a total value of 1.9 trillion rupiah (approximately $105.69 million), executed through more than 242,000 transactions. Shares of 283 companies declined, while 237 advanced and 1,911 remained unchanged.

The market reaction followed President Prabowo Subianto’s approval of Perry Warjiyo’s resignation, ending his nearly seven-year tenure as Governor of Bank Indonesia. His departure comes after months of pressure on the Indonesian rupiah.

State Secretary Prasetyo Hadi confirmed that the resignation had been accepted in accordance with legal procedures. He also announced that Senior Deputy Governor Destry Damayanti has been appointed Acting Governor until a permanent successor is selected.