Exporters Flock to Convert Dollars to Rupiah, New DHE Rule Proves Effective

Jakarta, CNBC Indonesia - Bank Indonesia (BI) has reported that many exporters have begun converting US dollars into rupiah following the issuance of a policy on Export Proceeds (DHE). Senior Deputy Governor of Bank Indonesia Destry Damayanti stated that a significant number of exporters have already converted US dollars to rupiah, even though the mandatory conversion is currently capped at a maximum of 50%. “Based on our monitoring, the number of exporters converting US dollars to rupiah is already quite substantial. We can see from those entering and carrying out conversions that it is already quite a lot,” Destry said during CNBC Indonesia’s Economic Update 2026, quoted on Wednesday (24/6/2026). This development follows the issuance of Government Regulation (PP) Number 21 of 2026 concerning DHE. The regulation has provided exporters with certainty, leading many to begin conversions. “Looking back, with the issuance of PP Number 21 of 2026 (the DHE PP), we have seen that exporters now have certainty. They finally know the decision: ‘Okay, we will convert 50%’. Previously, they had not yet converted, but after the PP was issued, we have seen conversions starting to occur,” she continued. Destry added that many exporters are also converting to meet obligations such as debt repayments, purchasing raw materials, and other needs. “After an evaluation, we saw that they actually have needs, for example to pay their debts, or they need to obtain raw materials from imports, so they have those obligations, import duties, and so on,” she explained. She also noted that with the new PP on DHE and because exporters are given a three-month compensation period to place DHE into special accounts, the potential for conversion could be even greater.