ID :
31603
Fri, 11/21/2008 - 23:59
Auther :
Shortlink :
http://m.oananews.org//node/31603
The shortlink copeid
BI TO MAINTAIN FREE FOREIGN EXCHANGE REGIME
Jakarta, Nov 21 (ANTARA) - Bank Indonesia (BI) Governor Boediono said here on Friday that BI would continue to adhere to the free foreign exchange system even though the rupiah had plunged to Rp12,000 against the US dollar.
"We will continue to implement the law on free foreign exchange which requires Indonesia to apply the free foreign exchange system. We realize that there are discourses proposing the adoption of a controlled foreign exchange regime," Boediono said here on Friday.
He said the law required the government to implement the free foreign exchange system where everyone was free to own and use foreign currencies.
The BI governor however promised that the central bank would do its best to keep the rupiah's value at a realistic level and good for the national economy.
"In a war, we have to keep secret the volume of our ammunition stock , how much we have already used and how much is left. So, we will continue to be present in the market and use all our ammunition," the BI governor said when explaining BI's steps in intervening in the money market.
Bank Indonesia's foreign exchange reserves at the end of October stood at US$50.58 billion. It had fallen drastically from US$57 billion at the end of last September as BI had been drawing heavily from them for its efforts to shore up the battered rupiah.
"We will continue to implement the law on free foreign exchange which requires Indonesia to apply the free foreign exchange system. We realize that there are discourses proposing the adoption of a controlled foreign exchange regime," Boediono said here on Friday.
He said the law required the government to implement the free foreign exchange system where everyone was free to own and use foreign currencies.
The BI governor however promised that the central bank would do its best to keep the rupiah's value at a realistic level and good for the national economy.
"In a war, we have to keep secret the volume of our ammunition stock , how much we have already used and how much is left. So, we will continue to be present in the market and use all our ammunition," the BI governor said when explaining BI's steps in intervening in the money market.
Bank Indonesia's foreign exchange reserves at the end of October stood at US$50.58 billion. It had fallen drastically from US$57 billion at the end of last September as BI had been drawing heavily from them for its efforts to shore up the battered rupiah.
