Purbaya Confident DHE SDA Rule Implementation Will Further Strengthen Rupiah Exchange Rate

Minister of Finance Purbaya Yudhi Sadewa is confident that the implementation of the Natural Resource Export Proceeds (DHE SDA) regulation, effective from 1 June 2026, will further strengthen the rupiah exchange rate. He stated that the enforcement of Government Regulation (PP) Number 21 of 2026 during the June-September 2026 period will result in more DHE being retained domestically, thereby reinforcing the rupiah’s position. “So from June, July, August, September, the money will effectively enter here. The rupiah should also strengthen,” Purbaya said at the Coordinating Ministry for Economic Affairs in Jakarta on Thursday, 23 July 2026. The regulation requires non-oil and gas exporters to place 100 per cent of their DHE SDA in a special account domestically for a minimum of 12 months. Meanwhile, oil and gas exporters are required to place at least 30 per cent of their DHE SDA for a minimum of three months. The placement of DHE SDA must be made through state-owned banks, with a conversion limit from foreign currency to rupiah capped at 50 per cent to maintain the effectiveness of the government’s management of the proceeds. During a meeting on DHE SDA held at the Coordinating Ministry for Economic Affairs today, Purbaya explained that the discussions also covered exemptions for certain countries from the rule, as well as which state-owned banks would be designated to receive the DHE SDA. “So we want to ensure which countries are exempted, which banks can accommodate the DHE, and which companies we are looking for the technicalities for,” Purbaya said. He disclosed that the list of exempted countries includes the United States and will be expanded, though he declined to provide further details. “The list will grow. The Coordinating Minister will announce it. But it will be reviewed every three months, so there is no problem if there are shortcomings,” he added.