DPR Just Passed Bill on Indonesian Currency

Sunday, September 25, 2011

House of Representatives (DPR), just approved the bill currency on Tuesday (31 / 5). Achsanul Qosasi, Deputy Chairman of Commission XI of DPR has been brought to the Exchange Act is consistent with Article 23 B 1945 Constitution.

Achsanul said the law contains articles regulating Indonesia rupiah currency in the near future. He took the chapter on the management of rupees as an example. In this chapter, the law requires extensive coordination between Bank Indonesia and the government. Coordination, planning, printing, distribution, revocation / withdrawal and destruction of money.

In addition, the law also favors monetary security printing money. Government and DPR agreed that Bank Indonesia will print money for the appointment of a state-owned enterprise (Milik Negara Badan USAHA / BUMN) as an organizer.


"If the designated BUMN can not do that, the rupee is printed through the cooperation with another institution," said Achsanul.

The law also regulates the rules for the signature of the rupee, the government will be involved. The rules in force August 17, 2014. Meanwhile, change the wording of rupees shall be regulated by different laws.

Currency Act also states that each execution in Indonesia should be used in rupees. However, it does not apply to certain activities, such as the performance of the state budget, revenue and grants, and from abroad, international business transactions, foreign exchange savings and the international financial arrangements.

Achsanul further explained that the Act regulates the sanctions, especially for domestic transactions, which do not use the rupees. "These transactions are subject to fines and IDR 200 million a year in jail," said Achsanul.

Also hoped Agus Martowardojo Exchange Act provide a stronger legal basis for the control and management of rupees in the near future.

"Hopefully the law can raise money for our dignity, national and international levels," said Agus.

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