BI issues policy on use of Rupiah in international events

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Bank Indonesia
Bank of Indonesia. (IO/Almatin Abbas)

Jakarta, IO – Bank Indonesia (BI) issued Regulation 24/6/PBI/2022 on the policy for the use of Rupiah in international activities, effective on April 27, 2022.

The policy aims to form a comprehensive regulation that covers all aspects of the use of rupiah in international events and supports economic development, according to official statement by the Cabinet Secretariat, Wednesday (11/5).

“The impact of the regulation on the use of the rupiah is expected to support the stability of the exchange rate, encourage financial market deepening, and improve the structure of the domestic economy,” BI states.

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The regulation also emphasizes that the key principle for the policy is that rupiah can be used outside the territory of the Republic of Indonesia in a limited manner as long as it has a positive impact and benefit for the Indonesian economy.