Bank Indonesia (BI) has issued Circular BI (SEBI) No. 17/11 / DKSP dated June 1, 2015 on Liability Use of Rupiah in the territory of the Republic of Indonesia (NKRI). Starting this month all transaction activities in the country both in cash and non-cash compulsory used Rupiah, for those who violate will be imprisonment up to 1 year.Head of the Department of Money Management in Bank Indonesia Eko Yulianto, he said such obligations are also regulated in Bank Indonesia Regulation Number 17/3 / PBI / 2015 on the obligation to use Rupiah in the territory of the Republic of Indonesia which have been published March 31, 2015 last.
Eko insists BI will provide criminal sanctions, it is a maximum of one year imprisonment and a maximum fine of Rp 100 million for those who are still caught using foreign currency in the country in every transaction in cash. The sanctions will be applied from 1 July 2015.
BI also requires the inclusion of prices of goods and services in dollars and banned list prices of goods with two currencies. So it must be one for price, service costs, lease rates must use of Rupiah.
Provisions of Exceptions
However, in implementing the mandatory rules of the rupiah, BI exclude strategic infrastructure projects in the transport sector, sanitation, roads, telecommunications, water, electricity, drinking water, and oil and gas as long as it meets the conditions set.
- First, represented by central or local government as a strategic infrastructure projects.
- Second, obtain approval from the central bank to be exempted from the obligation to use dollars. In providing such consent, consider the source BI project financing and the impact of the project on macroeconomic stability.
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