Indonesia bans foreign currencies in local transactions

Global Business

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Indonesia is taking steps to stabilize the rupiah – one of Asia’s worst performing currencies. The Indonesian central bank has issued a regulation banning the use of foreign currencies like the U.S. dollar for local transactions. Economists argue that the policy may actually drive up costs and create distortion in the economy. CCTV’s Andy Saputra filed this report from Jakarta.

Indonesia bans foreign currencies in local transactions

Indonesia bans foreign currencies in local transactions

Indonesia is taking steps to stabilize the rupiah - one of Asia's worst performing currencies. The Indonesian central bank has issued a regulation banning the use of foreign currencies like the U.S. dollar for local transactions. Economists argue that the policy may actually drive up costs and create distortion in the economy.CCTV's Andy Saputra filed this report from Jakarta.