September 27, 2018 / 7:31 AM / 8 months ago

Indonesia to issue regulation launching domestic NDF market

JAKARTA, Sept 27 (Reuters) - Indonesia’s central bank will issue a regulation allowing banks in the country to trade non-deliverable forwards in the domestic market to provide an alternative hedging product and help stabilise the rupiah, Bank Indonesia Governor Perry Warjiyo said on Thursday.

BI will use the Jakarta Interbank Spot Dollar Rate (JISDOR) as fixing rate and settle the transactions in rupiah, Warjiyo said.

The regulation will require foreign investors or companies with foreign currency liabilities to provide underlying documents for their transactions, according to Nanang Hendarsah, BI’s senior official. (Reporting by Fransiska Nangoy and Maikel Jefriando; Editing by Richard Borsuk)

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