ANNOUNCEMENT 28 Jun 2012
In June 2012, the government of Indonesia announced a change in foreign exchange usage.
NUMBER OF INTERVENTIONS
Law no.7/2011 (in Bahasa Indonesia):
On 28 June 2011, the Indonesian president signed law Nr. 7/2011 on currencies, requiring cash transactions within Indonesia to be conducted only in the local currency (art. 21(1) of the law).
The ban shall not hold for the following exceptions listed in the law:
The regulation came into force on the day of its issuance but entities had one year to comply with the new provisions.