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Indonesia issues new rules for palm oil and other commodity exporters as rupiah slides


  • Palm Oil
  • Wednesday, 19 Sep 2018

Enggartiasto Lukita(centre) also told reporters that exporters of commodities such as palm oil and coal will be required to keep half of their proceeds onshore for a minimum of six months and convert them to rupiah.

Enggartiasto Lukita(centre) also told reporters that exporters of commodities such as palm oil and coal will be required to keep half of their proceeds onshore for a minimum of six months and convert them to rupiah.

JAKARTA: Indonesia has laid out new rules for commodities exporters to guarantee funding for shipments through Indonesian banks or branches of foreign banks in the country, the trade minister said on Tuesday, part of a bid to prop up the ailing rupiah.

The Indonesian currency <IDR=> has fallen about 9 percent versus the dollar this year, caught up in broader selling of emerging market assets.

Palm Oil , Economy

   

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