Ada Pertanyaan? Hubungi Kami 
Ada Pertanyaan? Hubungi Kami Fathan Qorib, Robert Sidauruk
Bank Indonesia (BI) will take further measures to address the ongoing weakening trend of the rupiah against the US dollar. Agus Martowardjojo, Governor of BI, has indicated that BI will utilize five policies to stabilize the macroeconomy.
“It is hoped these policies will overcome the current temporary economic uncertainty and create healthy economic circumstances for the long term," said Agus at BI’s main office in Jakarta on Friday.
The first proposal is to extend the periods for fixed term foreign currency deposits. The current term for such deposit is set at seven days, 14 days, and 30 days. The proposal is to change these periods from between one day to 12 months. It is hoped that this policy will increase the diversity of tenure for placements of foreign currency by commercial banks that make deposits with BI.
The second policy is to implement easier processes for exporters that have sold so called Exchange Export Results (Devisa Hasil Ekspor) to purchase foreign exchange. The Governor explained that this policy will facilitate exporters buying foreign exchange by using the currency underlying sales document.
As a third policy, the Governor said that BI will adjust the terms and conditions on swap transactions for foreign exchange transactions between commercial banks and BI as part of the requirements for banks in making transactions with third parties.
The fourth policy is to change provisions on foreign debt. This measure will be taken by BI by allowing commercial banks to provide certain types of foreign loans to third parties. These foreign loans may be given in the form of a rupiah demand deposit with the reserve funds derived from revenue from divestment of direct investments, the stock market, or the sale of State Securities.
“Under this policy commercial banks will able to manage the demand for foreign currency by non-residents without disregard the prudential aspects of grading foreign loans,” adds the Governor.
The final policy involves using BI Deposit Certificates (Sertifikat Deposito Bank Indonesia). In the near future, informed the Governor, BI will issue a Deposit Certificate designed to provide more room for the banking industry to manage money markets through financial products and services.
In following-up the proposed policies, the Head of BI’s Strategic Planning and Public Affairs Department, Dody Budi Waluyo asserted that the policies will be issued by amending several BI regulations.
Dody further explained that the policy on BI Deposit Certificates and swap transactions for foreign exchange will be incorporated into BI Regulation No. PBI No. 12/11/PBI 2010on Monetary Operations as amended by BI Regulation No. 14/5/PBI 2012.
Furthermore, the policy on foreign debt will be further regulated by BI Regulation No. 7/1/PBI 2005on Foreign Loans By Banks as amended by BI Regulation No. 13/07/PBI 2011. Finally, the policy on underlying sales documents as a payment method for foreign exchange will be incorporated into BI Regulation No. 10/28/PBI 2008.
(hot/kc)
Fathan Qorib, Robert Sidauruk
Bank Indonesia (BI) will take further measures to address the ongoing weakening trend of the rupiah against the US dollar. Agus Martowardjojo, Governor of BI, has indicated that BI will utilize five policies to stabilize the macroeconomy.
“It is hoped these policies will overcome the current temporary economic uncertainty and create healthy economic circumstances for the long term," said Agus at BI’s main office in Jakarta on Friday.
The first proposal is to extend the periods for fixed term foreign currency deposits. The current term for such deposit is set at seven days, 14 days, and 30 days. The proposal is to change these periods from between one day to 12 months. It is hoped that this policy will increase the diversity of tenure for placements of foreign currency by commercial banks that make deposits with BI.
The second policy is to implement easier processes for exporters that have sold so called Exchange Export Results (Devisa Hasil Ekspor) to purchase foreign exchange. The Governor explained that this policy will facilitate exporters buying foreign exchange by using the currency underlying sales document.
As a third policy, the Governor said that BI will adjust the terms and conditions on swap transactions for foreign exchange transactions between commercial banks and BI as part of the requirements for banks in making transactions with third parties.
The fourth policy is to change provisions on foreign debt. This measure will be taken by BI by allowing commercial banks to provide certain types of foreign loans to third parties. These foreign loans may be given in the form of a rupiah demand deposit with the reserve funds derived from revenue from divestment of direct investments, the stock market, or the sale of State Securities.
“Under this policy commercial banks will able to manage the demand for foreign currency by non-residents without disregard the prudential aspects of grading foreign loans,” adds the Governor.
The final policy involves using BI Deposit Certificates (Sertifikat Deposito Bank Indonesia). In the near future, informed the Governor, BI will issue a Deposit Certificate designed to provide more room for the banking industry to manage money markets through financial products and services.
In following-up the proposed policies, the Head of BI’s Strategic Planning and Public Affairs Department, Dody Budi Waluyo asserted that the policies will be issued by amending several BI regulations.
Dody further explained that the policy on BI Deposit Certificates and swap transactions for foreign exchange will be incorporated into BI Regulation No. PBI No. 12/11/PBI 2010on Monetary Operations as amended by BI Regulation No. 14/5/PBI 2012.
Furthermore, the policy on foreign debt will be further regulated by BI Regulation No. 7/1/PBI 2005on Foreign Loans By Banks as amended by BI Regulation No. 13/07/PBI 2011. Finally, the policy on underlying sales documents as a payment method for foreign exchange will be incorporated into BI Regulation No. 10/28/PBI 2008.
(hot/kc)