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Retail Asia11/01/2019

Indonesian peer-to-peer lending platform KoinWorks said in a statement on Monday that it has received an investment from US-based venture capital firm Quona Capital. “We’re very happy we could collaborate with Quona as one of our investors,” said Benedicto Haryono, chief executive and co-founder of KoinWorks. “With the inclusion of Quona among our line of investors, it […]

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Retail Asia27/09/2018

A lawmaker and an industry analyst have called on the government to scrap its export tax on crude palm oil to help improve the competitiveness of the sector and boost exports, amid a weakening rupiah. Since 2015, the Indonesian Oil Palm Estate Fund (BPDPKS), which is tasked with strengthening and promoting sustainable practices in the […]

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Retail Asia24/09/2018

The value of the rupiah has stabilized in recent days as the domestic supply of dollars has increased due to inflows from returning investors and more exporters converting their earnings, Bank Indonesia Governor Perry Warjiyo said on Friday (21/09). “The rupiah has stabilized and it tends to strengthen,” Perry said. “Many fund managers have begun […]

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Retail Asia11/09/2018

Indonesia’s foreign exchange reserves slipped around $400 million in August to $117.9 billion, Bank Indonesia said last Friday, partly because of the central bank’s intervention to defend the rupiah. The rupiah has lost around 9 percent of its value so far this year. The currency was trading around its weakest levels in 20 years this […]

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Retail Asia06/09/2018

Indonesia is bracing for prolonged pressure on the rupiah amid souring emerging market sentiment exacerbated by Argentina’s economic woes, Finance Minister Sri Mulyani Indrawati said on Monday (03/09), as the local currency plumbed its weakest levels since 1998. The rupiah hit 14,825 per dollar on Monday, the weakest since the Asian financial crisis two decades […]

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Retail Asia07/08/2018

Vice President Jusuf Kalla said Indonesia must impose stricter measures to ensure that dollars earned from exports remain in the country for longer, amid the continuous depreciation of the rupiah, which has been among the worst performers in Asia this year. The currency has weakened by 6.21 percent against the dollar so far this year, amid a […]

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Retail Asia31/07/2018

Bank Indonesia has done more than any Asian peer to defend its currency amid a global rout in emerging markets, but the fact that the rupiah has kept slipping suggests the central bank would struggle to maintain the pace in a prolonged battle. Like many developing markets with current account or trade deficits, Southeast Asia’s […]

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Retail Asia12/06/2018

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Over the past couple of decades, Indonesian companies have developed a tried and tested strategy to cope with the periodic plunges in the rupiah: retain dollars to protect their profits. But their behavior can add to downward pressure on the currency, exacerbating problems for policymakers in southeast Asia’s biggest economy, especially given its relatively open […]

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Retail Asia23/05/2018

Indonesia’s central bank on Thursday (17/05) hiked its benchmark interest rate for the first time since November 2014, as expected, in a bid to bolster the fragile rupiah. Bank of Indonesia (BI) raised the 7-day reverse repurchase rate by 25 basis points to 4.50 percent. In 2016 and 2017 combined, BI cut the key by […]

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Retail Asia15/03/2018

Bank Indonesia expects the rupiah to continue to strengthen and currency market volatility to subside as market price in expected US Federal Reserve’s interest rate hikes, a senior official said on Wednesday (14/03). “The fundamental level of an exchange rate is not a fix level, but I can say that the current level is not […]

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Retail Asia12/06/2017

The rupiah climbed 20 bps this morning at the Jakarta Interbank Spot Dollar Rate. The rupiah now trades for Rp13,278 per US dollar, from what analysts said to be the impact of Indonesia’s foreign exchange (forex) reserves’ increase. Samuel Sekuritas economist Rangga Cipta said on Friday, June 9, that the forex reserve increase in May to […]

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Retail Asia01/06/2017

The rupiah exchange rate at the Jakarta Interbank Spot Dollar Rate this morning fell by 8.0bps to trade for Rp13,332 per US dollar. The rupiah is corrected along with most Asian currencies. “Rupiah weakens along with Asian currencies depreciation against the US dollar,” Samuel Sekuritas economist Rangga Cipta said in Jakarta, May 18. However, Rangga […]

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Retail Asia16/05/2017

There is a new regulation issued by Bank Indonesia (BI) on the carrying of foreign banknotes into and outside the country. This regulation is set forth in Bank Indonesia Regulation (PBI) No 197/7 / PBI / 2017 dated May 5, 2017. This regulation arranges that foreign banknote carriages within and outside the country of at […]

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Retail Asia08/03/2017

Reza Priyambada, a senior analyst of PT Binaartha Sekuritas, predicts that the rupiah will extend its gain. The rupiah is expected to move to around a support level of Rp13,385 and resistance level of Rp13,327. “Recent strengthening of the rupiah may open the opportunity for a rebound in the rupiah to extend its gain,” Reza […]

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Retail Asia20/01/2017

Bank Indonesia (BI) has kept its 7-days reverse repo rate at 4.75 percent. Other monetary benchmark rates such as deposit facility rate and lending facility rate have also been kept at 4 and 5.5 percent. “The decision was made by BI to preserve domestic macroeconomic stability,” Bank Indonesia spokesman Tirta Segara said yesterday. As such, […]

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Retail Asia19/01/2017

Indonesia’s central bank is widely expected to keep its benchmark policy rate unchanged on Thursday as it monitors the rupiah’s movement at a time of global uncertainty and price pressures at home. Bank Indonesia (BI) cut its benchmark six times last year, by 150 basis points, to 4.75% to aid economic growth. During 2016, the […]

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Retail Asia20/12/2016

Indonesia’s central bank governor said yesterday that the bank is seeking to slash three zeros off the face value of rupiah notes to simplify its currency system. Bank Indonesia Governor Agus Martowardojo said he has asked President Joko Widodo to revive a previously shelved plan to redenominate the rupiah to make it “more efficient and […]

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Retail Asia19/12/2016

Bank Indonesia released on Monday seven new banknotes and four coins bearing the pictures of 12 national heroes. The launch of the new notes and coins was attended by President Joko “Jokowi” Widodo and Bank Indonesia governor Agus Martowardojo in Jakarta, Antara news agency reported. The new notes are the Rp100,000, Rp50,000, Rp20,000, Rp10,000, Rp5,000, […]

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Retail Asia28/11/2016

The Indonesian rupiah fell 20 points to close at Rp13,529 per dollar in the Jakarta interbank spot market on Friday evening, compared to the previous close of Rp13,509 per dollar. “The US dollar continued its rally against the majority of the main global currencies, including rupiah, along with investors optimism about the looming Fed rate […]

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Retail Asia19/11/2016

The rupiah fell 54 points to close at Rp13,414 per dollar in the Jakarta inter-bank spot market on Friday evening, compared to the previous close of Rp13,360 per dollar. The dollar appreciated at the weekend, sending a signal that the Fed has indicated the possibility of raising its interest rate this year end, Ariston Tjendra, […]

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