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Despite the liberalisation efforts, Indonesia still had multiple exchange rates. A more realistic exchange rate was finally established of 378 (new) rupiah to US$1 as of April 1970. In August 1971, the exchange rate was devalued slightly, to Rp415 to US$1.
Fixed currency (alphabetical order) Anchor currency Rate (anchor / fixed) Abkhazian apsar: Russian ruble: 0.1 Alderney pound (only coins) [1]: Pound sterling: 1 Aruban florin
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2] Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador ...
Perry suggested that there may be room for further easing in months ahead saying, "Bank Indonesia thinks there is still room for accommodative policies, in line with a low inflation projection and to push for further economic growth". [11] The following month, in August, Bank Indonesia announced a second cut in the interest rate from 5.75% to 5.5%.
The real exchange rate (RER) is the purchasing power of a currency relative to another at current exchange rates and prices. It is the ratio of the number of units of a given country's currency necessary to buy a market basket of goods in the other country, after acquiring the other country's currency in the foreign exchange market, to the ...
Indonesia's foreign direct investment surged 44.2% on a yearly basis in 2022, with the base metals sector drawing in the biggest inflows. Indonesia's received 654.4 trillion rupiah worth of FDI last year, or equivalent to $45.6 billion in the investment ministry's official calculation, which assumes an exchange rate of 14,350 to the dollar.
In the Cold War-era United States, under the Bretton Woods system of fixed exchange rates, intervention was used to help maintain the exchange rate within prescribed margins and was considered to be essential to a central bank's toolkit. The dissolution of the Bretton Woods system between 1968 and 1973 was largely due to President Richard Nixon ...
Bank Indonesia was founded on 1 July 1953 from the nationalisation of De Javasche Bank, three years after the recognition of Indonesia's independence by Netherlands. [4] For the next 15 years, Bank Indonesia carried on commercial activities as well as acting as the nation's national bank and is in charge in issuing Indonesian rupiah currency ...