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Indonesia issues new regulations on use of local currency

by ChemOrbis Editorial Team - content@chemorbis.com
  • 08/06/2015 (17:22)
According to media reports, Indonesia’s central bank, Bank Indonesia, has issued new regulations mandating the use of the rupiah in the Indonesian territory in order to stabilize the country’s currency.

With the new regulations, all cash and non-cash transactions will be made in rupiah while prices for goods and services within the country will only be specified in rupiah. These regulations are expected to have a significant effect on business in Indonesia if they are strictly enforced as a considerable number of non-cash transactions are made in US dollars in the country.

In 2011, the Indonesian government issued a currency law which only required the use of the rupiah in cash transactions.
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