‘Imaginary’ Rupiah a Virtual Reality?
Singapore banks are currently trading in rupiah using non-delivery forward contracts. Could these contracts also be used for speculating on the rupiah?
February 27, 2001
JUST as there are many roads that lead to Rome, there are also lots of ways of making a profit. This is perhaps an apt slogan for those overseas players who enjoy speculating on the rupiah. After being hit by the Bank Indonesia (BI) regulation that limits overseas rupiah transactions and forbids loans to non-residents, they have been scratching their heads over how to continue their speculation. And, of course, Singapore banks are masters at any ...