{
    "success": true,
    "data": {
        "id": 1802923,
        "msgid": "house-praises-bis-move-to-partner-with-china-rupiah-strengthens-and-trade-transactions-no-longer-rely-on-us-1781441460",
        "date": "2026-06-14 19:00:00",
        "title": "House Praises BI's Move to Partner with China, Rupiah Strengthens and Trade Transactions No Longer Rely on US Dollar",
        "author": "",
        "source": "VIVA",
        "tags": "bisnis",
        "topic": "Economy",
        "summary": "Indonesia's House of Representatives has commended Bank Indonesia for signing a Bilateral Currency Swap Arrangement with China, a move seen as bolstering national economic resilience. The agreement, which also expands local currency transactions to include Hong Kong, allows direct trade using rupiah and renminbi. This strategic shift aims to strengthen the rupiah's international position and reduce reliance on the US dollar.",
        "content": "<p>Deputy Speaker of the Indonesian House of Representatives (DPR RI)\nSufmi Dasco Ahmad has praised Bank Indonesia\u2019s (BI) strategic move to\nstrengthen the rupiah exchange rate through a Bilateral Currency Swap\nArrangement (BCSA) with China. He described the agreement as an\nimportant breakthrough in reinforcing national economic resilience while\nreducing dependence on the US dollar in international trade\ntransactions. The BCSA agreement was signed by Bank Indonesia Governor\nPerry Warjiyo and People\u2019s Bank of China (PBOC) Governor Pan Gongsheng\nin Shanghai, China, on Thursday, 11 June 2026. Dasco assessed that the\ncooperation demonstrates the seriousness of the government and monetary\nauthorities in maintaining Indonesia\u2019s economic stability amidst\nevolving global economic dynamics. According to Dasco, the agreement not\nonly covers the BCSA but was also expanded through the signing of a\nMemorandum of Understanding (MoU) on Local Currency Transactions (LCT).\nThe LCT cooperation was even extended to include Hong Kong through an\nagreement made with the Chief Executive of the Hong Kong Monetary\nAuthority (HKMA), Eddie Yue. He explained that through this agreement,\ntransactions between Indonesia, Mainland China, and Hong Kong can be\nconducted using their respective local currencies, namely the rupiah and\nrenminbi, without having to rely on the US dollar as an intermediary\ncurrency. \u2018The agreement means transactions between Indonesia, Mainland\nChina and Hong Kong can be carried out using rupiah or renminbi without\ndepending on the US dollar,\u2019 Dasco said in a written statement on\nSunday, 14 June 2026. Dasco believes that using local currencies in\ntrade transactions will provide significant benefits for Indonesia.\nBesides strengthening the rupiah\u2019s position, the mechanism is also\nconsidered capable of reducing the need for US dollars in export and\nimport activities. With this cooperation, trade transactions between\nIndonesia and China can be conducted directly using each country\u2019s\ncurrency. This is seen as an important step in expanding the use of the\nrupiah at the international level.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/house-praises-bis-move-to-partner-with-china-rupiah-strengthens-and-trade-transactions-no-longer-rely-on-us-1781441460",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}