Bank Indonesia to close from June 3 to 7

Bank Indonesia (BI) has announced it will not operate from June 3 to 7, when Muslims celebrate the Idul Fitri holiday, marked by the exodus of millions of people to their hometowns.

In a statement published on its official website, BI said the decision was made in reference to a joint decree issued by the Religious Affairs Ministry and the Administrative and Bureaucratic Reform Ministry on Nov. 2, 2018, on holiday and collective leave days.

The services that would not operate during the collective leave days included BI-real time gross settlement (BI-RTGS), BI-scriptless securities settlement system (BI-SSSS), BI-electronic trading platform (BI-ETP) system, BI-national clearing system (SKNBI) and cash service, the statement said.

During the period, the central bank will not issue the Jakarta interbank spot dollar rate (JISDOR), while the rupiah exchange rate against the United States dollar will be based on the rate published the previous day.

BI will also not regulate the operation of banks during the collective leave days. “The operation of banks is under the consideration and authority of each bank’s management,” the central bank said in the statement. (bbn)