Monday, May 20, 2013

Indonesia Starts to Publish Onshore U.S. Dollar-Rupiah Rate Today

- Indonesia's central bank today started to publish the onshore US dollar-rupiah rate or known as JISDOR.

- The info could be seen everyday starting from 10 a.m at the country's central bank website.
 - The rate is the weighed average from all transactions of dollar-rupiah in around 70 foreign exchange banks that happened between 8 to 9.45 a.m Jakarta time; it's not a fixing rate.

- Today's rate was 9,760.

-  Central bank official believed with the existence of the rate as a benchmark for transactions among market players or banks' customers, it would increase the liquidity of the domestic foreign exchange market.

- The new contracts such as forward, derivative or other contracts which included settlement US dollar-rupiah should set JISDOR as the reference rate.

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