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Indonesia: Bank Indonesia's Policy on the use of Rupiah in International Activities

As mandated by Law No.23 of 1999 on Bank Indonesia(“BI”), which was lastly amended by Law No.6 of 2009, the establishment of BI, as the central bank of Indonesia, has one of the objectives of achieving and maintaining stability in the value of the Rupiah, the Indonesian national currency. In order to achieve these objectives, BI has issued several regulations on the policies on the use of Rupiah, to encourage the use of Rupiah within the territory of the Republic of Indonesia and to regulate the use of Rupiah outside Indonesia, such as the following:
a. BI Regulation (“PBI”) No.3/3/PBI/2001 on the Restrictions of Rupiah Transaction and the Extension of Foreign Currency Credit by…To read the full article, please see the PDF file

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Asia Newsletter (March 6, 2023) Download PDF [190 KB]