rupiah is convertible on the current account: while not open on the capital account, policies have accommodated increased FDI and portfolio flows. USDIIDR exchange rate 16000 14000 • 12000 10000 WOO • 6000 4000 - MOO -• 0 81 96 01 11 16 USD/IDR spot rate and 3M NDF premium 16000 Spot 1