Hand over that fistful of dollars

Hand over that fistful of dollars

From Bisnis Indonesia

Exporters, businesspeople and individuals tend to keep their dollars instead of converting them into our legal tender, the rupiah. It has resulted in the scarcity of dollars in the money market, thus pushing the fall of the rupiah's exchange rate.

There are a couple of steps that can be taken to overcome the current trend. I would propose the following to reach stability in the currency.

Every exporter, company or individual who exchanged their dollars into rupiah at officially appointed banks or money changers would be given a certificate.

This would entitle the owner to buy the same amount of dollars against the same rate of exchange over a certain period of time. e.g. 12 months.

This measure would encourage the people to exchange their dollars into rupiah. The current situation requires renewal measures and cost-cutting efforts to restore confidence.

R.K. CHOPRA

Jakarta