Bank Indonesia is preparing to reduce the limit on the purchase of dollars without underlying in the domestic market. The limit, which was previously reduced from 100 thousand US dollars to 50 thousand US dollars per person per month, will be reduced again to 25 thousand US dollars.
Governor of BI Perry Warjiyo said the policy was part of a step to strengthen the stabilization of the rupiah, which was reported to the President at the Presidential Palace Complex, Jakarta, Tuesday, May 5.
"Oh, the restriction on buying dollars that we have lowered from 100 thousand to 50 thousand, we are preparing to lower it again to 25 thousand," said Perry.
With this rule, the purchase of dollars at the limit must be accompanied by an underlying transaction. Underlying is the basis of clear needs, such as import payments, foreign debt, dividends, or other needs that can be proven by documents.
"So the purchase of dollars up to or above 25 thousand must use the underlying," he said.
Perry said BI would also continue to intervene in the domestic cash market, DNDF, as well as NDF in foreign markets, including Hong Kong, Singapore, London, and New York.
According to Perry, BI's foreign exchange reserves are sufficient to maintain the stability of the rupiah exchange rate.
In addition, BI strengthened supervision of banks and corporations that have high dollar purchase activities. Supervision is carried out together with OJK to ensure that the stability of the financial system is maintained.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
