EFTA Document EFTA01379389

22 December 2017 EM Currency Handbook 2018: Still Fuel in the Tank Indonesia During the 1990s, Indonesia operated a heavily managed FX regime - essentially a fixed conversion rate with pre-announced intervention bands (initially +1-0.25%) in a framework for creeping depreciation. But being too slow to move the market rate up, Bank Indonesia was forced to widen its intervention bands 6 times between January 1994 and September 1996. Then, as the Asian Financial Crisis took hold, and a f