Bank Indonesia expands reserves averaging mechanism

Bank Indonesia
Bank Indonesia is set to enhance its reserves averaging framework
Christopher Jeffery

Bank Indonesia is to strengthen the Indonesian rupiah reserve requirement average mechanism to include a broader range of instruments and banks.

In a speech on November 28, governor Agus Martowardojo announced that the refinements to the mechanism include extending it to foreign currency reserve requirements and to Islamic banks. BI will also adjust the reserve requirement ratio and extend the fulfilment period.

The averaging mechanism was introduced in July 1 this year to enhance the ability

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