{
    "success": true,
    "data": {
        "id": 1802742,
        "msgid": "house-appreciates-bis-move-to-cooperate-with-china-to-strengthen-rupiah-1781434522",
        "date": "2026-06-14 17:01:20",
        "title": "House Appreciates BI's Move to Cooperate with China to Strengthen Rupiah",
        "author": "",
        "source": "ANTARA_ID",
        "tags": "",
        "topic": "Economy",
        "summary": "The House of Representatives has praised Bank Indonesia's collaboration with the People's Bank of China to bolster the rupiah. The agreement includes a bilateral currency swap and cross-border QRIS payment integration, reducing trade reliance on the US dollar. The initiative is viewed as a serious effort to stabilise the national currency through local currency transactions.",
        "content": "<p>Jakarta (ANTARA) - The Deputy Speaker of the House of Representatives\n(DPR RI), Sufmi Dasco Ahmad, has expressed appreciation for Bank\nIndonesia\u2019s initiative to collaborate with the People\u2019s Bank of China\n(PBOC) to strengthen the rupiah\u2019s exchange rate.<\/p>\n<p>According to Dasco, the Bilateral Currency Swap Arrangement (BCSA),\nsigned on 11 June 2026 in Shanghai, China, represents a concrete step\nforward. \u201cThis agreement allows transactions between Indonesia, Mainland\nChina, and Hong Kong to be conducted using the rupiah or renminbi\nwithout having to depend on the United States dollar,\u201d Dasco stated in\nJakarta on Sunday.<\/p>\n<p>Furthermore, Dasco noted that the Memorandum of Understanding (MoU)\nincludes the implementation of cross-border QRIS between Indonesia and\nChina. This will enable transactions between Chinese and Indonesian\nentrepreneurs to utilise international QRIS connectivity.<\/p>\n<p>\u201cThis system already involves 191 service providers in China and 24\nin Indonesia, all of which are connected,\u201d he said.<\/p>\n<p>He also mentioned that the signing of the MoU regarding Local\nCurrency Transactions (LCT) has been expanded to include the Hong Kong\nregion.<\/p>\n<p>With the agreement between Bank Indonesia and the People\u2019s Bank of\nChina, Indonesia\u2019s export and import transactions with China can be\nconducted without further reliance on the US dollar. \u201cThis is a very\nserious effort to reduce the need for the US dollar in trade\ntransactions, including the use of cross-border QRIS between Indonesia\nand China. Bank Indonesia is undertaking this to strengthen the rupiah,\u201d\nhe added.<\/p>\n<p>Previously, on Thursday (11\/6), Bank Indonesia and the People\u2019s Bank\nof China (PBOC) deepened bilateral cooperation to increase the use of\nlocal currencies (LCT) in bilateral transactions and to strengthen\ncross-border payment connectivity between Indonesia and China.<\/p>\n<p>Bank Indonesia Governor Perry Warjiyo emphasised that this financial\ncooperation strengthens local currency transactions between Indonesia\nand China, develops financial infrastructure, and expands cooperation\nbetween central banks, including the establishment of an RMB Clearing\nBank in Indonesia.<\/p>\n<p>Meanwhile, PBOC Governor Pan Gongsheng added that China and\nIndonesia, as major economies and strategic partners in the region,\nshare a responsibility to deepen bilateral economic and financial\ncooperation.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/house-appreciates-bis-move-to-cooperate-with-china-to-strengthen-rupiah-1781434522",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}