Indonesia Plans Tighter Coal, Palm Oil Export Controls After Rupiah’s Record 17,655 Low
Indonesia plans tighter controls on exports including coal and palm oil as it seeks to curb tax evasion and support the rupiah after the currency fell to a record 17,655 per dollar. The move would increase government control over commodity exports as authorities respond to pressure on the currency.
Indonesia’s markets fell earlier Tuesday as speculation mounted that the government would centralize commodity exports to control capital flows and shore up the currency. The rupiah slid 1.1% to its all-time low when local markets reopened on Monday after a two-day holiday.
From the sources (9 posts)
@firstsquawkThe Indonesian rupiah weakens to an all-time low of 17,650 against the dollar at the open.
@businessThe Indonesian rupiah fell to a new all-time low as oil prices advanced and as local markets reopened after a two-day holiday
@firstsquawkIndonesia’s currency drops further, with the rupiah down 1.1% at a record low of 17,655 per USD.
@reutersIndonesia rupiah hits new record low; president downplays day-to-day impact of currency weakness
@businessIndonesia’s markets fell as speculation mounted that the government will centralize commodity exports to control capital flows and shore up a plunging currency
@zerohedge*INDONESIA PLANS TO TIGHTEN STATE CONTROL OVER COMMODITY EXPORTS
@chigrlresource nationalism >> *INDONESIA PLANS TO TIGHTEN STATE CONTROL OVER COMMODITY EXPORTS
@firstsquawkINDONESIA AIMS TO INCREASE GOVERNMENT CONTROL OVER COMMODITY EXPORTS.
@businessIndonesia plans tighter controls on exports including coal and palm oil as it seeks to curb tax evasion and support the plunging rupiah