Legal Articles

Mandatory Use of Rupiah in Indonesia

SSEK

Indonesia’s central bank, Bank Indonesia, recently issued BI Regulation No. 17/3/PBI/2015 regarding the Mandatory Use of the Rupiah within the Republic of Indonesia, dated March 31, 2015 (“BI Reg 17”), which restricts the use of foreign currency in domestic transactions conducted within Indonesian territory.

With the issuance of BI Reg 17, despite the fact that the ...

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