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Govt strengthens use of  the rupiah

Acting Head of the Department of Managed Money Bank Indonesia, Eko Yulianto said, later those who violate the obligation to use dollars will be subject to criminal sanctions outlined in the Currency Law No. 7 in 2011. The sanctions in the form of confinement up to 1 year and a maximum fine of Rp 200 million.

“The obligation of use dollars for cash transactions in effect since Currency Law,” said Eko in office, Jakarta, Thursday (09/04/2015).

Meanwhile, for the breach of duty usage amount for non-cash transactions, Eko said it would impose administrative sanctions. “In the form of a written reprimand, a fine in the form of an obligation to pay (1 percent of the value of the transaction and / or a maximum of USD 1 billion), the last ban to participate in payment transactions,” said Eko.

Earlier, Bank Indonesia issued Regulation No. BI 17.03.2015 on the obligation to use Rupiah  in Homeland region with consideration of the number of transactions in the country are still using the foreigner currency.

Eko said, the use of foreign currency is large enough, will put pressure on the Rupiah currency amount by the number of transactions per month reached 6 billion US dollars. PBI This applies since enacted on March 31, 2015, for cash and non-cash starting from July 1, 2015.

Associated monitoring and reporting the implementation of the new rules, Eko said, BI is given the authority to request reports, information, and / or data to any party regarding the conduct of the obligation to use dollars.

“Then BI would oversee the compliance of each party to implement the obligation to use the rupiah,” said Eko.

Forbid to the inclusion of price other than dollars

Additionally, PBI, which is based on Law No. 23 of 1999 on BI and Currency Law No. 7 In 2011, the prices of goods obligated the inclusion / services (unquoted) only in Rupiah

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