BI Records LCT Transactions Using Renminbi-Rupiah Reach US$13 Billion

Bank Indonesia (BI) has revealed that the value of local currency settlement (LCT) between Indonesia and China has grown significantly, reaching US$13 billion as of the end of April 2026. BI Governor Perry Warjiyo stated that LCT between China and Indonesia has expanded rapidly over the past four months, outpacing last year’s full-year total of US$18 billion. “Indonesia-China LCT is very large. Last year it was US$18 billion; this year, in just four months, it has reached US$13 billion,” Perry said during the presentation of the BI Board of Governors meeting results on Thursday (18/6/2026). According to Perry, settling trade and investment directly in rupiah and renminbi reduces the need for US dollars in various transactions. “We call this diversification and it will continue to be strengthened. Secondly, we will keep encouraging domestic banks and businesses, as well as those in China, to increasingly use rupiah and renminbi, and this aligns with the internationalisation of the renminbi,” Perry remarked. He noted that all of this represents progress in the settlement of transactions between Indonesia and China, encompassing not only LCT but also end-to-end payment infrastructure.