Bank Indonesia Lowers Dollar Buying Document Threshold
Bank Indonesia will lower the threshold for dollar purchase documentation to 25,000 dollars. This move aims to support the rupiah after it hit a record low.
Xurve View
Xurve View
Indonesia will require documentation for dollar purchases exceeding $25,000 to defend the rupiah, according to central bank Governor Perry Warjiyo. The move follows the rupiah sliding to a record low of 17,445 per dollar on Tuesday afternoon. Investors face tighter capital controls as Bank Indonesia attempts to stabilize a currency it considers undervalued relative to fundamentals.
