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.
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