BI to announce policy package to support rupiah

[JAKARTA] Indonesia's central bank will announce a new policy package next month to support the rupiah , a central bank official said on Friday.

The plan will include a relaxation of requirements on forward dollar selling and a tax incentives to exporters to keep their dollars onshore, said Juda Agung, Bank Indonesia's executive director for monetary and economic policy.

The package will also aim to increase onshore foreign exchange supply for spot and forward transactions.

The rupiah is the second worst performing currency in emerging Asia, having lost 18 per cent against the dollar so far this year.

REUTERS