INDRA rate set at Rp 6,832

INDRA rate set at Rp 6,832

JAKARTA (JP): The Indonesian Debt Restructuring Agency (INDRA)
has set the exchange rate used to convert private foreign debt at
Rp 6,832 to the U.S. dollar for companies joining the agency this
month.

INDRA chairman Sumitro said in a statement on Thursday that
the new rate was taken from the best exchange rate in February
and adjusted according to the month's inflation rate of 7.07
percent.

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

The agency said that the annual interest rate on rupiah debts
for the period of Feb. 3 to May 2 has been set at 6.2 percent.
(hen)