{
    "success": true,
    "data": {
        "id": 1664439,
        "msgid": "economist-bi-needs-to-strengthen-the-domestic-foreign-exchange-market-ecosystem-to-support-the-rupiah-1775649158",
        "date": "2026-04-08 17:48:34",
        "title": "Economist: BI needs to strengthen the domestic foreign exchange market ecosystem to support the rupiah",
        "author": "",
        "source": "ANTARA_ID",
        "tags": "",
        "topic": "Economy",
        "summary": "Josua Pardede, Head of Economics at Permata Bank, recommends that Bank Indonesia (BI) bolster the domestic foreign exchange market ecosystem to aid in stabilising the rupiah's exchange rate. He proposes three prudent policy directions: enhancing the role of primary money and forex dealers to improve market depth, and expanding bilateral transactions in local currencies with trading partners to gradually reduce dollar dependency. While acknowledging criticisms from DPR RI Commission XI Chairman Mukhamad Misbakhun regarding BI's conventional approach, Josua argues that the central bank should not be interpreted as a literal liquidity provider, though the underlying intent is understandable.",
        "content": "<p>Jakarta (ANTARA) - Head of Economics at Permata Bank, Josua Pardede,\nviews that Bank Indonesia (BI) needs to strengthen the domestic foreign\nexchange (forex) market ecosystem to support efforts in stabilising the\nrupiah\u2019s exchange rate.<\/p>\n<p>Josua, when contacted by ANTARA in Jakarta on Wednesday, explained\nthree policy directions deemed wiser for strengthening the domestic\nforex market.<\/p>\n<p>First, strengthening the role of primary money and forex dealers as\nliquidity providers and two-way price makers to increase market\ndepth.<\/p>\n<p>Second, expanding bilateral transactions in local currencies with\ntrading partners so that dependence on the dollar decreases\ngradually.<\/p>\n<p>Previously, on Tuesday (7\/4) at the Indonesia Outlook event, Chairman\nof DPR RI Commission XI, Mukhamad Misbakhun, assessed that BI\u2019s handling\nof the exchange rate remains conventional and overly cautious amid\nincreasing complexity.<\/p>\n<p>Misbakhun questioned why BI does not become a forex liquidity\nprovider by securing supply from the start through large contracts and\nhigh-level diplomacy to ensure availability in the market remains\nmaintained.<\/p>\n<p>Regarding this, according to Josua, the view that BI\u2019s approach is\nstill conventional and needs to become a forex liquidity provider has an\nunderstandable spirit, but is not entirely accurate if taken\nliterally.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/economist-bi-needs-to-strengthen-the-domestic-foreign-exchange-market-ecosystem-to-support-the-rupiah-1775649158",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}