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| PAST ISSUES |
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| Guidelines
for closing-out outstanding
Indonesian Rupiah |
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| IDR TRANSACTIONS |
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1
February 2001
The Chief Executive
All Member Banks
Bank Indonesia Regulation
On Rupiah Transactions -
Update
Arising from the Bank
Indonesia Regulation on Rupiah
transactions and following
a meeting with SFEMC earlier
today, we would like to advise
member banks that SFEMC will
work with twenty banks this
afternoon to recommend a
series of close out rates
for outstanding rupiah transactions
as at the close of 11/1/01
which could be used as a
reference guide among banks
as appropriate. These rates
will be made available tomorrow
morning and we will keep
you informed accordingly.
As for settlement with customers,
each of your bank would have
your own procedures for the
settlement of such transactions.
The Director
The Association
of Banks in Singapore |
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