JAKARTA: Indonesia's central bank has urged local commercial banks to use the onshore market as their benchmark for forward rupiah, reminding them that they were banned from trading in offshore rupiah non-deliverable forwards (NDF).
Bank Negara Indonesia said it was coordinating with peers in South-East Asia about problems in settling NDF rates, after a source told Reuters that internal reviews by banks in Singapore found evidence traders colluded to manipulate such rates.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!