Bank Indonesia Adjusts Foreign Exchange Transaction Rules to Bolster Rupiah Stability
Jakarta, Indonesia – Bank Indonesia (BI) announced adjustments to the limits on foreign exchange transactions, effective April 2026, aimed at supporting the stability of the Indonesian Rupiah exchange rate. The changes, unveiled during a press conference on March 17, 2026, involve modifications to cash purchase thresholds and limits for financial instruments.
Key Changes to Foreign Exchange Regulations
Governor of Bank Indonesia, Perry Warjiyo, detailed the policy adjustments, stating they are designed to maintain Rupiah stability by refining the cash threshold for purchasing foreign currency against the Rupiah. Specifically:
- Cash Purchase Threshold: The limit for cash purchases of foreign currency against the Rupiah will be reduced from US$100,000 per person per month to US$50,000 per person per month.
- DNDF/Forward Selling Limit: The threshold for selling Deliverable Non-Deliverable Forwards (DNDF) will be increased from US$5 million per transaction to US$10 million per transaction.
- Swap Transactions: The threshold for buying and selling swaps will likewise be increased, from US$5 million to US$10 million per transaction.
Impact and Rationale
These adjustments reflect Bank Indonesia’s ongoing efforts to manage foreign exchange market dynamics and safeguard the Rupiah’s value. Reducing the cash purchase threshold aims to curb speculative activities and encourage the employ of formal financial channels for foreign exchange transactions. Simultaneously, increasing the limits for DNDF and swap transactions provides greater flexibility for businesses engaged in international trade and investment.
Broader Economic Context
These policy changes occur within a broader context of economic stability and growth in Indonesia. Recent projections indicate Indonesia’s economic growth in 2025 is expected to remain on track with the government’s target of 5.2 percent 1, with a 2026 growth target of 5.4 percent maintained for the US$1.4 trillion national economy 1. Bank Indonesia has also indicated a potential for loosening interest rates to further support economic growth, while closely monitoring inflation and exchange rate stability 1.
QRIS Expansion and Digital Payments
Bank Indonesia is also actively expanding the use of the Quick Response Code Indonesian Standard (QRIS) for cross-border payments. Plans are underway to integrate QRIS with China and South Korea by the first quarter of 2026 2, building on existing QRIS availability in Singapore, Thailand, Malaysia and Japan 2. Discussions are also ongoing with India and other Asian countries to further broaden the reach of QRIS 2.
These initiatives demonstrate Bank Indonesia’s commitment to modernizing the Indonesian payment system and fostering greater financial inclusion.