Use Of Rupiah In Transaction Required in Lagoi

Tanjungpinang, Riau Islands, Sept 10 (Antara) - The district of Bintan of Riau Islands Provice, Ansar Ahmad, said the use of rupiah in transactions will be required in that district, where the people still use Singaporean dollar. "By the end of this year, all transactions must be in rupiah. Lagoi is part of Indonesia," Ansar said in Kijang, Bintan, on Monday. So far business players in the tourism sector have continued to use Singaporean dollar although the district administration has banned the use of foreign currencies in that district since July 2013. "According to the Law No 7 of 2011, the regulation banning the use of foreign currencies in transaction should be effective immediately , but we gave them (business players in the tourism sector) dispensation based on a number of factors," Ansar said. He said he had coordinated with the district police that the regulation could be implemented effectively. "Socialization has been launched in cooperation with Bank Indonesia, police and other related agencies," he added. He said other countries also adopt similar policy, citing Indonesian are required to exchange their rupiah if they want to do some transactions. "That also is a must in Lagoi," he said. He acknowledged that it is easier and more convenient in doing transaction with Singaporean dollar or US dollar in Lagoi because of the rupiah volatility. "Yes, it is easier but Lagoi is part of Indonesia not owned by Singapore," he insisted. Lagoi is on the island of Bintan, only a few miles south of Singapore.