Mr Gustaaf Reerink

Gustaaf Reerink

Updates

Banking

Regulation on mandatory use of rupiah and prohibition on dual price denomination
Indonesia | 09 October 2015

Bank Indonesia (the Indonesian central bank) has issued a regulation and accompanying circular letter governing the mandatory use of rupiah for all cash and non-cash transactions. In prescribing the mandatory use of rupiah – with certain exemptions and special considerations – the regulation and circular letter apply the territoriality principle that underlies many of Bank Indonesia's other regulations.