Mon, 26 Jan 1998

Dollar quotations

Despite the launch of the high-profile "Love Rupiah" campaign, some local suppliers of raw material have lately started to quote their prices in U.S. dollars for local supplies.

Room rates at star-rated hotels, airline tickets for international travel, office and apartment rents etc. have already been quoted in U.S. dollars for a number of years.

In order to curtail further use of foreign currency for local transactions, some restrictions could be imposed. For example, foreign currencies could be allowed only for foreign trade. We must impose self-discipline on ourselves to curb the use of foreign currency and express our love for the rupiah.

In case this trend is not reversed, the day is not far off when a barber will quote his services in U.S. dollars.

R.K. CHOPRA

Jakarta