Bank Indonesia Clamps Down on Speculative Purchases of US Dollars

Bank Indonesia (BI) has tightened purchases of US dollars by requiring transactions above US$25,000 to be supported by an underlying document. Ruth A. Cussoy Intama, Director of the Financial Market Deepening Department, said the policy aims to curb speculative trading and the pursuit of short-term gains in the foreign exchange market. However, she stressed that BI does not restrict FX purchases that are accompanied by underlying documents, which serve as evidence that the purchases are for real-economy needs such as trade, education costs, or international travel.

‘If mothers with children abroad really need FX, they may do so. Enterprises that require FX for the economy, please go ahead,’ she said at a journalist training event in Makassar on Friday, 22 May 2026.

According to Cussoy Intama, the majority of FX transactions in Indonesia already carry underlying documents. BI notes that more than 90 percent of domestic FX transactions have supporting documentation.

The tightening of US dollar purchases is one of seven rupiah-stabilisation steps undertaken by BI. Governor Perry Warjiyo said all steps have received presidential approval from Prabowo Subianto.

As of June 2026, BI plans to lower the exemption threshold for underlying-free US dollar purchases from US$50,000 to US$25,000. BI records that spot USD transactions fell after the FX purchase tightening. Warjiyo added that the use of underlying documents in spot transactions has risen to 93.5 percent from 89.2 percent. He noted that although the policy has only been in place a short time, it has started to yield positive results.