Regulatory Alerts2011-01-21
Bank Indonesia Regulation Number 13/4/PBI/2011 concerning Revocation of Bank Indonesia Regulation Number 10/22/PBI/2008 concerning Meeting of Need of Foreign Exchange for Domestic Corporation through Bank
Bank Indonesia issued Regulation Number 13/4/PBI/2011 to revoke the temporary foreign exchange policy established under Regulation Number 10/22/PBI/2008. This revocation reflects the stabilization of the domestic foreign exchange market and the restored ability of domestic corporations to fulfill foreign currency requirements through standard market mechanisms. The previous regulation, which was implemented to ensure foreign exchange liquidity during economic upheaval, is declared null and void effective January 21, 2011.
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