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.”
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Turkey’s PP, PE markets open 2021 with supply-driven hikes
- Vietnam’s local homo-PP market retreats for 3rd week on subdued demand
- China’s PE demand wavers amid controls on environmental pollution and electricity use
- January trend takes shape in Egypt’s PP, PE markets
- Stats: Turkey’s 2020 polymer imports set to beat the 2017 record
- China PP, PE markets close 2020 on a soft note; SE Asia feels pressure
- Stats: China’s total PE imports down for 2nd month in November
- Egypt PET markets poised to end the year on a strong note
- China ABS prices move below SEA after 8 months
- Sentiment in Turkey’s PP, PE markets defies faltering in China
