BI: Dollar Transactions Decline After Foreign Exchange Policy Tightened

Bank Indonesia (BI) recorded a decline in spot US dollar transactions following the tightening of foreign exchange purchase policies. From early April 2026, BI required the inclusion of underlying documents for cash purchases exceeding US$50,000. This threshold was tightened from the previous US$100,000.

BI Deputy Governor Thomas Djiwandono stated that as of 17 April 2026, the average daily spot customer transactions had decreased from US$78 million to US$60 million. “Regarding the readiness of the banks, as there was a one-month transition period for reporting and submitting those documents, the banks are already prepared and there are no issues there,” he said during the online press conference on the results of the BI Board of Governors’ Meeting held on Wednesday, 22 April 2026.

BI Governor Perry Warjiyo added that the use of underlying documents in spot transactions has increased to 93.5% from 89.2%. According to him, although it has only been in place for a short time, the tightening of the foreign exchange transaction policy has already yielded positive results.

In line with that, BI is also encouraging an increase in Domestic Non-Deliverable Forward (DNDF) transactions. “Thus, the positive results are already visible, with more transactions for Domestic Non-Deliverable Forward,” Perry said.

Previously, BI’s Head of Communications Department, Ramdan Denny Prakoso, stated that the implementation of the underlying document submission threshold is BI’s effort to ensure that foreign exchange purchases are based on economic needs. He emphasised that the policy does not restrict foreign exchange purchases but strengthens the obligation to include underlying documents.

Denny said that changes to the threshold over time are part of an adaptive policy to respond to economic and global as well as domestic financial market dynamics.

“This policy is formulated by considering exchange rate movements and foreign exchange transaction patterns in the domestic market, to maintain rupiah exchange rate stability and ensure that the domestic foreign exchange market dynamics continue to operate in a healthy and efficient manner,” he said in a written statement on Tuesday, 17 March 2026.