The figure was also above the 58 billion
rupiah monthly average LCS transactions recorded last year, the BI data revealed.
Nevertheless, the 9% decline in the
rupiah against the US dollar since the start of 2018 could create pressure on companies with sizeable foreign-currency borrowings and weaker hedging practices.
Mapa said both the peso and the
rupiah, together with the Indian rupee, struggled this ndash year emerging as the worst performing currencies in the region due to concerns about widening trade gaps and resultant current account deficits.
The government and the central bank must team up to counter any impact of such a step on the
rupiah as well, he said.
The minister said direct transactions using
rupiah and yuan would protect both currencies from the negative impact of any change in demand for US dollar.
The
rupiah advanced 1 percent to 12,458, heading for its biggest weekly gain in six months, and India's rupee rose 0.7 percent to 61.41.
Anyone in violation of the bylaw faces a maximum of six months in prison or a fine of 50 million
rupiah (US$4,100).
Taiwan's dollar and the Indonesian
rupiah are forecast to lead a recovery in Asian currencies next year as attention shifts to the region's growth potential and away from the reduction in US monetary stimulus.
Jakarta: Indonesia's economy grew at its slowest in nearly four years in the third quarter, as weak exports risk leaving its trade balance in deficit and the
rupiah vulnerable to further falls.
is priced from 99 million
rupiah, or about 850,000 yen, to 120 million
rupiah, or about 1.03 million yen, Japan's largest automaker said.
JAKARTA -- Indonesia's central bank has moved to shore up its
rupiah currency after it hit a four-year low, as foreign investors exit emerging markets due to expectations that huge stimulus schemes in the developed world will soon end.
State owned pharmaceutical company PT Indofarma (Persero) Tbk (INAF) said it suffered badly because of the
rupiah depreciation against the US dollar as 99% of its basic materials are imported.
