NEW CIRCULAR LETTER FROM BANK INDONESIA
Effective from 1st June 2015, any transaction carried out in the territory of the Unitary State of the Republic Indonesia is obliged to use the Rupiah. The obligation applies to indviduals or corporations that make cash and non-cash transaction. This is in accordance with Bank Indonesia Regulation No. 17/3/PBI/2015 on Obligation to Use Rupiah in the Territory of the Unitary State of the Republic of Indonesia, 31st March 2015.
The transactions that are still allowed to use foreign currencies as follows:
- Certain transactions within the framework of the implementation of the state budget of revenues and expenditures;
- Receipts or grants from abroad or made by the parties, one of which domiciled abroad;
- International trade transactions;
- Bank deposits in foreign currencies as foreign exchange savings or foreign currency deposits;
- The international financial transactions.
The regulation also sets out terms that businesses in the territory of the Unitary State of the Republic Indonesia are required to include price of the goods and/or services only in Rupiah, and prohibited to include price of the goods and/or services in Rupiah and foreign currencies simultaneously (dual quotation). Duties and prohibitions referred above, among others, apply to:
- The price tag, such as price tag listed on goods;
- The cost of services (fee), such as the fee agent in buying and selling property, services, tourism, consulting services;
- The cost of the lease, such as rent apartments, houses, offices, buildings, land, warehouse, vehicle;
- Rates, such as rates of loading and unloading of containers at the port or the air ticket fare, cargo;
- The price list, such as price list of restaurant menus;
- Contract, such as price or cost clause contained in the contract or agreement;
- The offer document, ordering, billing, such as clauses contained in the invoice price, delivery order, purchase order, and/or
- Proof payment, such as the price indicated on receipts.
Liability and ban of price inclusion of goods and/or services in Rupiah referred also apply to the inclusion of the price of goods and/or services through electronic media.
Obligation to use Rupiah does not apply to transactions in foreign currencies undertaken under the provisions of the Act, including banking Act and respective implementations. This includes fees in foreign currency that is imposed in the implementation of the business activities. Please find how to access the existing fees and charges (PDF 73kB).
Click here to see the full version of the new regulation No. 17/3/PBI/2015 and circular letter no.17/11/2015 :
- PBI 17-3-2015 Kewajiban Penggunaan Rupiah di Wilayah Negara Kesatuan Republik Indonesia (PDF 92kB)
- SE 17-11-2015 Kewajiban Penggunaan Rupiah di Wilayah Negara Kesatuan Republik Indonesia (PDF 104kB)
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