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Bank Indonesia reaffirms rupiah as legal tender for tourism transactions
Bali newsBali10 min read
The Bank Indonesia Representative Office for Bali Province has reiterated that all tourism sector transactions in Indonesia must use the rupiah, as the sector is not exempt from the obligation to use the local currency. Deputy Head of the Bank Indonesia Representative Office for Bali Province, Ronald Dungdung Parluhutan, stated that the rupiah is legal tender in Indonesia and its use in domestic transactions supports exchange rate stability and rupiah sovereignty. While Bank Indonesia Regulation Number 17/3/2015 exempts international trade transactions from this rule, allowing exporters to price in foreign currencies, the tourism sector is not included in this exception. Chairperson of the Indonesian Travel Agency Asita Bali, Putu Winastra, has requested flexibility to list tour package prices in foreign currencies, such as the US dollar, with payments still made in rupiah at the prevailing exchange rate. Winastra highlighted the dilemma faced by tourism businesses, as listing prices in foreign currencies could lead to legal action, while pricing solely in rupiah can burden operations when the US dollar strengthens and the cost of tourism necessities increases. Bali, as a major tourist destination, generates foreign exchange, which helps strengthen the rupiah, especially during periods of volatility like the recent weakening of the rupiah against the US dollar.
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