26 Feb 2001 | Guidelines for closing out outstanding Indonesian Rupiah

As a result of Bank Indonesia’s regulation on Rupiah transactions, the Singapore Foreign Exchange Market Committee has issued guidelines for best practice for closing-out outstanding Indonesian Rupiah (IDR) transactions on a consensual basis. A  circular from the Association of Banks in Singapore and a  letter from the SFEMC chairman provide relevant information on this matter.

26 February 2001 
MEETING WITH THE BANK INDONESIA DEPUTY GOVERNOR ON 26 FEBRUARY 2001 

Bank Indonesia Deputy Governor, Miranda Goeltom and her team were in Singapore and met with the senior members of the SFEMC as well as the other ABS’ member banks in the IDR market this afternoon. During this meeting, Ms Goeltom gave a briefing and presentation on : 

(a) The background on the regulation of Rupiah transactions 
(b) The main objective of the regulation 
(c) The coverage of the regulation 
(d) The latest development of the domestic forex market