Regulatory Alerts2024-09-27
Regulation of Member of Board of Governors Number 11 of 2024 on Foreign Exchange Market Transactions
Bank Indonesia issued this regulation to govern, develop, and supervise the foreign exchange market to ensure rupiah stability and market modernization. It establishes requirements for financial and smart contracts, mandates the daily publication of reference rates, and sets specific thresholds for underlying transactions to prevent speculative trading. The document also defines transaction types, participant obligations, and administrative sanctions for non-compliance with prudential standards.
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