The BI Governor, Agus Martowardojo, said here on Friday that he had made such a request to the government.
The central bank asked state-owned companies not to buy dollars in large quantities in the spot market. "We, along with the government have asked state-owned companies not to meet all of their dollar needs from the spot market."
The measure was important to avoid high pressure on the rupiah`s exchange rate as a result of demand for dollars in the market, he said. The state-owned companies could time their purchases to ease pressure on the local currency. "Their financial obligations may become due in September, November or December. If so, they need not buy dollars now."
BI was coordinating with the State Enterprises Ministry, state-owned companies and the Financial Service Authority to address the matter.
In addition, BI had asked state-owned companies to hedge their foreign currency transactions and obligations to avoid losses due to exchange rate difference, he said.
To maintain the rupiah`s exchange rate, BI wouldl also increase the frequency of the FX Swap auction, which was now held once a week in the money market.
Reported by Indra Arief Pribadi
EDITED BY INE
(T.S012/B/KR-BSR/A014)
Reporter: antara
Editor: Heru Purwanto
Copyright © ANTARA 2018
