Foreign Currency Transactions Between Banks and Foreign Parties

Efforts by Bank Indonesia (“BI”) to stabilize the current exchange rate volatility of the Indonesian rupiah (“IDR”) as it stands against the US Dollar (“USD”) continues apace. In a new initiative, BI Regulation No. 17/14/PBI/2015 (“Amendment”) has just been issued and amends BI Regulation No. 16/17/PBI/2014 on Foreign Currencies against Rupiah Transactions between Banks and Foreign Parties (“2014 Regulation”). [1]