BI Revises Regulations on Foreign Exchange Transactions
1 June 2015 20:58 WIB
TEMPO.CO, Jakarta - Bank Indonesia (BI) revised three of its regulations on foreign exchange transactions conducted by both domestic and foreign banks, and third parties. In addition, BI amended its regulation on commercial banks net foreign exchange.
Nanang Hendarsyah, head of BI's financial task force, said that the regulation amendment was expected to accelerate the deepening of domestic foreign exchange market.
"The acceleration of the deepening of domestic foreign exchange market is marked by the adequate liquidity, transaction facility, fair price and minimum risk to maintain the economic stability," Nanang said on Monday, June 1, 2015.
Nanang added that the revision was a form of BI's supports for the country's economy that would remove hedging conducted by market makers to mitigate risk and foreign exchange liquidity.
Nanan hoped that the revisions would support efforts to improve domestic trade capacity and investments through transaction flexibility.
"In addition, the revision was conducted prudently by considering the impacts on the stability of financial system," Nanan said.
BISNIS.COM