Bintan Resorts Not Accepting Singapore Dollars Any More

Bintan Resorts Not Accepting Singapore Dollars Any More

All transactions must be made in Indonesian rupiah, say hotel operators in Bintan, a popular travel destination amongst Singaporeans.

indonesia beach

Planning a Bintan getaway? Remember to exchange for more Indonesian rupiah. Since the beginning of September, hotels and resorts in Bintan have stopped accepting payment in Singapore dollar.

Bintan-based hotel operators such as Banyan Tree and Nirwana Gardens had been told to accept Indonesian rupiah only, citing a government policy that requires all transactions to be made in the local currency.

The rupiah-only policy was actually passed by the Indonesian Parliament much earlier in 2011.

This law appears to be enforced only recently, following a report by an Indonesian news agency earlier this year. According to Antara News, the high demand for other currencies will trigger the depreciation of the Indonesian rupiah.

The bank’s Deputy Governor Ronald Waas was quoted by Antara News saying, “Bank of Indonesia has asked all entrepreneurs and the Indonesian community to use the rupiah currency in every transaction across the nation, as the bank feared that other countries will be one step ahead of Indonesia”.

The encouragement to use the Indonesian rupiah comes before the establishment of the ASEAN Economic Community (AEC), slated for 2015 next year to support regional economic integration.

Foreign currencies like the Singapore dollar and American dollar were still in use in Bintan earlier this year. In Batam, another popular destination amongst Singaporeans, the policy does not appear to have taken effect.

Also read: Keep Quiet or Be Kicked Out of Batam, Indonesia

Image credits: astama81

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