Following the announcement, the value of the Indonesian rupiah dropped by 0.3%, and the JSX Composite fell by 0.9%. Observers denied Prabowo's allegations of cheating, finding that the elections were "generally fair and free"; Maswadi Rauf of the University of Indonesia stated that there was "no sign of significant fraud", and that Prabowo's withdrawal simply reflected "the real attitudes of the elite, who are not yet ready to accept losing". On 21 August 2014, the Indonesian Constitutional Court rejected his claim of fraud, confirming his election loss.