Dollar hoarding<\/p>\n
In view of present currency scenario, the majority of
\nexporters, corporations and individuals are holding dollars in
\ntheir accounts and avoiding conversion to the local currency,
\nthereby enhancing the scarcity of dollars in the market which is
\npushing the rupiah further downwards.<\/p>\n
There are several measures which can be taken to reverse the
\npresent trend. I would like to suggest one such scheme which can
\nstabilize the currency to some extent. The scheme is as follows:<\/p>\n
* Any exporter, company or individual who converts dollars to
\nrupiah at the government's approved counter is issued a
\ncertificate stating the details of the transaction such as
\namount, conversion rate, date, name etc.<\/p>\n
* The certificate entitles the holder to exercise his option
\nto buy back the same number of dollars at the same conversion
\nrate, within the specified period of time, say 12 months.<\/p>\n
This scheme will encourage the corporate sector and
\nindividuals to convert their dollars to the local currency as it
\ncovers their risk. Considering the present situation innovative
\nschemes and damage control exercises are required to restore
\nconfidence.<\/p>\n
R.K. CHOPRA<\/p>\n
Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/dollar-hoarding-1447899208", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }