Murdiono said the government remained committed to a free foreign exchange system and wanted to see a stabilization of the currency.
12.
Indonesia was the first among the developing countries to introduce a free foreign exchange system 25 years ago, in the early seventies.
13.
In an era of free foreign exchange, the wealthy keep some of their money abroad as a reserve for a rainy day.
14.
In this connection, let me reaffirm that the Indonesian government has not the slightest intention of changing our free foreign exchange system.
15.
It seems the IMF believes that a totally free foreign exchange market is the only way to establish the value of our peso.
16.
The new measures, however, were not meant to abandon the country's free foreign exchange regime policy, said Mukhlis Rasyid, the central bank's managing director.
17.
Murdiono said the president reassured the business leaders that the government will maintain its free foreign exchange policy, despite rumors that it may impose controls.
18.
The free foreign exchange regime has given more room for speculators to attack the rupiah, but little maneuvering space for the government to defend it.
19.
In May, the Bank of Greece pushed the overnight offered rate up to 200 percent during an attack on the drachma when the government freed foreign exchange controls.
20.
Senior Economic Minister Ginandjar Kartasasmita said the government will not impose foreign exchange controls and will stick to the existing free foreign exchange system for the time being.
