11.   A currency board system is a monetary regime based on an explicit legislative commitment to exchange domestic currency for a specified foreign currency at a fixed exchange rate.

12.   A currency board system, if properly conceived and implemented, would definitely go a long way in stabilizing the rupiah.

13.   A Thai newspaper said the Bank of Thailand had discussed with the International Monetary Fund the possibility of a currency board system to control baht volatility.

14.   According to Steve Hanke, an American advising President Soeharto on currency board systems, it will be complementary to the IMF reform measures.

15.   But he stopped short of embracing a currency board system for his country, something Indonesia looks set to implement.

16.   Dealers said properties and financial stocks outperformed as interbank rates continued their downward trend after the Indonesian government announced plans to introduce a currency board system.

17.   Discretion is necessary, and I am satisfied that it has been exercised in a manner consistent with the discipline of the currency board system.

18.   Hanke is a persistent advocate of the currency board system, which counts among its users Hong Kong and Argentina.

19.   He cited Hong Kong and Argentina as examples and said they had successfully operated a currency board system for years.

20.   He said that he was still considering the implementation of a currency board system that would peg the rupiah at a fixed exchange rate to the dollar.