Dollar Accounts Surge 58%, Perbanas Reveals the Cause

The number of United States dollar (USD) deposit accounts surged in May 2026. Data on deposit account distribution from the Indonesia Deposit Insurance Corporation (LPS) recorded the number of USD accounts reaching 8,918,054, a 58.2% increase year-on-year (yoy) as of May 2026. This figure accounted for 1.3% of the total number of deposit accounts held by the Indonesian public. This growth far exceeded the number of rupiah deposit accounts, which rose by only 8.4% in the same period. The total was 673,138,861 accounts, representing 98.7% of the overall figure. In general, the nominal amount of foreign currency deposits also increased by 18.7% yoy as of May 2026. The nominal value was equivalent to Rp1,714.76 trillion, holding a 16.6% share of the total nominal value of all public accounts in Indonesia. Meanwhile, the nominal amount of rupiah accounts reached Rp8,615.16 trillion, a double-digit increase of 12.4%, though this was below the growth rate of foreign currency account nominals. Its share constituted the majority of all deposit nominals, equivalent to 83.4%. According to Hery Gunardi, Chairman of the Indonesian Banks Association (Perbanas), this rapid growth occurred in line with the implementation of the new Natural Resources Export Proceeds (DHE SDA) regulation, stipulated in Government Regulation (PP) Number 21 of 2026. The new rule, which took effect on 1 June 2026, mandates the placement of 100% of DHE SDA in banks within the Association of State-Owned Banks (Himbara). “Yes, there has indeed been an increase. Because of the DHE, the DHE entering Himbara banks is quite high,” Hery said when met at the Radius Prawiro Tower Building on Tuesday (14/7/2026). Consequently, the increase in dollar accounts is considered normal, coinciding with the rise in exporters’ dollar placements in state-owned bank accounts. “So it definitely increases if the DHE from export proceeds returns, and the incoming export proceeds certainly increase,” said Hery, who is also the President Director of PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI). On the other hand, the rupiah exchange rate against the USD has currently weakened by around 7.5% to 8.0% year-to-date (YTD). In today’s trading, the dollar was parked at Rp 18,080.