Foreign Currency Savings Interest Rises Sharply, CIMB Niaga Records 20% Growth

PT Bank CIMB Niaga Tbk. (BNGA) has recorded an increase in foreign currency (forex) accounts, in line with the trend occurring in the banking industry. According to CIMB Niaga’s Director of Consumer & Emerging Business Banking, Noviady Wahyudi, this trend is particularly evident among wealthy customers or the affluent segment.

Data from the Indonesia Deposit Insurance Corporation (LPS) shows that US Dollar accounts rose by 185.5% year-on-year (yoy) as of June 2026. Alongside this increase, the nominal value of foreign currency savings also grew by double digits. The total nominal value of foreign currency savings accounts was recorded at Rp1,741.46 trillion, up 19.5% yoy.

“Yes, the trend is the same. So if you look at this, it is one of the needs that exists in Indonesian society, especially in the affluent segment. And we have also made it easier by enabling it after we launched OCTO Mobile,” said Noviady when met on the sidelines of the CIMB Niaga Wealth Xpo at the Ritz Carlton Pacific Place on Wednesday (26/8/2026).

According to him, CIMB Niaga’s mobile banking application makes it easier for customers to view foreign exchange rates and conduct transactions. In addition, OCTO allows the use of money that is directly converted.

At CIMB Niaga itself, Noviady revealed that both funds and foreign currency accounts rose by more than 20%. He said this growth is also inseparable from the enthusiasm of young people buying foreign currency.

“Because the advantage is that they can buy first at the exchange rate they want, and later when they travel they can use it. So they can monitor it first. And buying through mobile, we have a guaranteed rate. If they find a better price elsewhere, we will pay the difference three times over,” explained Noviady.

He said the growth in foreign currency accounts at CIMB Niaga has been occurring over the last 24 months. This is because the public’s need for foreign currency is increasingly diverse, one of which is for travelling.

In addition, the growth in foreign currency at Indonesia’s second-largest private bank is not only concentrated in US dollars, but also in other currencies such as the Malaysian ringgit, South Korean won, and Chinese yuan.

Meanwhile, Noviady said the new Export Proceeds (DHE) policy in Government Regulation (PP) Number 21 of 2026, which requires 100% of natural resource export proceeds to be placed in banks belonging to the Association of State-Owned Banks (Himbara), has a greater impact on non-retail foreign currency accounts. The regulation came into effect on 1 June 2026.

“So for individuals, we see the enthusiasm remains the same. Especially now, for example, with the fluctuation of the exchange rate. There may be families and parents whose children are studying abroad, for example. Those who do have a need,” said Noviady.