- JAKARTA (Asia Pulse) -- Echoing
a wider move away from the US dollar, the government and the central bank,
Bank Indonesia, are may begin to use the Euro in export-import transactions
and foreign exchange reserves.
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- The statement was made by Finance Minister Boediono,
Bank Indonesia Governor Syahril Sabirin and Senior Deputy Governor Anwar
Nasution here at the weekend in connection with state oil company Pertamina's
plan to use Euro in its trade transactions.
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- "The US dollar is now still dominating trade. It
is possible to use Euro when it replaces the dollar's position," the
minister said.
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- According to Boediono, if the US dollar continues to
weaken compared to other foreign currencies including Euro, users of the
greenback may seek more stable currencies like the Euro.
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- Meanwhile, Syahril Sabirin said his side continued to
observe developments of foreign currencies including the US dollar and
Euro, especially following the outbreak of the Iraq war.
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- "We observe the prospect of every currency. Look
at the US dollar which is now affected by the Iraq war, and Euro which
is not. But we should also heed Euro and the European economy in the long
term," he said.
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- According to him, the conversion from the US dollar into
the Euro for foreign exchange reserves at Bank Indonesia is possible but
it should wait for the result of the central bank's observations.
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