Indonesia to cut dollar reliance with rupiah near two-year low

JAKARTA (Bloomberg): Bank Indonesia seeks to reduce the country’s reliance on the US dollar, with plans to allow domestic transactions of non-deliverable forwards in other currencies and to strike more agreements on local-currency settlement.

The central bank could offer non-US dollar-denominated domestic NDFs next year, Edi Susianto, executive director for monetary management, said in interview on Thursday (Sept 29).