REPUBLIKA.CO.ID, JAKARTA - Several large banks in Indonesia are interested in becoming contributor to draft currency quotation for trading abroad. Bank Indonesia will bar local lenders from quoting the IDR exchange rate from nondeliverable forward (NDF) in the foreign-exchange market. The action aims to protect IDR against speculative trading. 

"We seek to become contributor," Executive Director of Bank Central Asia (BCA), Jahja Setiaatmaja, said on Friday, adding that the move would show IDR and USD real position in domestic and abroad. He also said the IDR exchange rate from NDF was not credible.

"We will make our own currency quotation. Every minute, currency quotation issued by BCA, Bank Mandiri and BNI will issue currency quotation minute by minute, in real time," he said.

Executive Director of Monetary Policy at BI, Hendar, said BI planned to add an exchange rate spot reference of USD and IDR. The new currency reference will be made by a number of banks act as contributors.

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