Bank Indonesia Denies Limiting Foreign Currency Purchases: Only Strengthening Transaction Documentation Requirements
Jakarta — Bank Indonesia (BI) has provided further clarification regarding changes to its foreign currency (forex) purchase policy, including United States dollars, which will take effect from 1 April 2026.
The head of BI’s Communications Department has emphasised that the central bank is not restricting foreign currency purchases against the rupiah to USD 50,000 per actor per month, as previously reported from the earlier threshold of USD 10,000 per actor per month.
BI is only lowering the documentation threshold (threshold) requirement for underlying documentation for cash foreign currency purchases from the previous level above USD 100,000 to above USD 50,000 per actor per month.
“This policy is not about restricting foreign currency purchase transactions, but rather strengthening the requirement for underlying documentation,” the official stated in a written statement on Tuesday (17 March 2026).
The adjustment to the cash foreign currency purchase transaction threshold against the rupiah will take effect on 1 April 2026.
BI has also provided a transition period until 30 April 2026 to give market participants and banks time to adjust to the new requirements.
Furthermore, BI explained that the implementation of the underlying documentation submission threshold represents an effort by the central bank to ensure that foreign currency purchase transactions are based on genuine economic needs.
This step has also been taken to support rupiah exchange rate stability amid the ongoing turbulence in global and domestic financial market dynamics.
According to BI, this policy was formulated by closely monitoring exchange rate movements and foreign currency transaction patterns in the domestic market in recent times.
Accordingly, BI hopes that dynamics in the domestic foreign exchange market will continue to function in a healthy and efficient manner.
“In order to support rupiah exchange rate stability, BI is strengthening foreign exchange market transaction policy through adjustment of the documentation threshold requirement for transactions underlying foreign currency needs (underlying documentation) for cash purchases of foreign currency against rupiah, from USD 100,000 to USD 50,000 per actor per month,” the official explained.
BI added that historically, the central bank has adjusted the foreign currency transaction threshold several times in line with developments in global and domestic economic conditions.
“Changes to the threshold over time are part of an adaptive policy to respond to dynamics in the global and domestic economy and financial markets,” the official stated.
Previously, BI announced that it was changing several foreign currency transaction regulations starting April 2026 to maintain rupiah exchange rate stability.
The rupiah was recorded as having weakened by 1.29 percentage points point-to-point (ptp) to a position of Rp 16,985 per US dollar on 16 March 2026 compared to the end of February 2026.
“(Efforts to) strengthen foreign exchange market transaction policy will take effect in April 2026 to support rupiah exchange rate stability,” the official stated at BI’s RDG press conference on Tuesday (17 March 2026).
Separately, BI has also tightened supervision of foreign exchange flows by lowering the documentation requirement threshold for funds transfers abroad (outgoing) in foreign currency from USD 100,000 to USD 50,000.
This adjustment to foreign exchange regulations will also take effect in April 2026.