INDRA rate set at Rp 6,827

JAKARTA (JP): The Indonesian Debt Restructuring Agency (INDRA) set the exchange rate used to convert private foreign debt at Rp 6,827 to the U.S. dollar for companies joining the agency in February.

INDRA's February rate is higher than its January rate of Rp 6,738 a dollar.

The agency's chairman Sumitro said in a statement on Thursday that the new rate was taken from the best exchange rate in January and adjusted according to the month's inflation rate of 1.32 percent.

Companies joining INDRA pay their dollar-denominated debts in rupiah to INDRA, which then pays international creditors in dollars.