BI Calls on Business Owners to Reject US Dollar
17 December 2014 19:00 WIB
TEMPO.CO, Jakarta - In an effort to prevent Rupiah from dropping even further, Bank Indonesia initiated a campaign called "Love the Rupiah Movement", aiming at public, entrepreneurs and tourists elements. BI Spokesperson Peter Jacobs, said on Wednesday, December 17, 2014, that he has called on business owners to reject transactions in US dollar by foreign tourists. The effort would encourage foreign tourists to exchange US Dollar to Rupiah.
According to Peter, the movement is a realization of the Law No. 7/2011 on transactions in Indonesia. However, Peter denied that the movement was initiated after Rupiah's exchange rate hit the lowest pont.
"It was just a coincidence because we initiated the movement to exercise the law, not because the rupiah's exchange is declining," he said.
The similar movement was initiated in the 1997 to 1998 period when severe monetary crisis hit Indonesia. At that time, a song entitled 'Aku Cinta Rupiah' (I Love Rupiah) and 'Krismon' (Monetary Crisis), performed by child singer Cindy Cenora, was popularized to encourage people to exchange US Dollar to Rupiah.
PERSIANA GALIH
