Indonesia’s new regulations on rupiah come into effect
by ChemOrbis Editorial Team - content@chemorbis.com
According to market players, new regulations mandating the use of the Indonesian rupiah in local transactions came into effect as of July 1, 2015. Indonesia’s central bank, Bank Indonesia, issued these regulations in order to stabilize their currency.
A source from a local PVC producer stated, “With the new regulation, all cash and non-cash transactions will be made in rupiah. Our small scaled customers are now more willing to purchase as they are less worried about currency fluctuations.” A source from another local PVC producer added, “We think that there will be a great confusion once we start to offer in rupiah and that it will take time for the market to adjust to the new regulations.”
A source from a local PVC producer stated, “With the new regulation, all cash and non-cash transactions will be made in rupiah. Our small scaled customers are now more willing to purchase as they are less worried about currency fluctuations.” A source from another local PVC producer added, “We think that there will be a great confusion once we start to offer in rupiah and that it will take time for the market to adjust to the new regulations.”
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