Indonesia bans foreign currencies for domestic goods

In a reported bid to turn around the nation’s falling rupiah, prices for all goods and services in Indonesia, including Bali, will need to be quoted in rupiah only from today.

Indonesian rupiah.

Indonesian rupiah. Image by JasonParis / CC BY 2.0

The measure is expected to affect prices for hotels, restaurants and other services used by tourists, with some companies expected to increase their prices in rupiah to account for the risk of depreciation. A historically volatile currency, the Indonesian rupiah has been on a downward slide over the last four years. Read more: theaustralian.com.au

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