To Strengthen the rupiah, Puteri Komarudin Urges Optimisation of DHE SDA

To Strengthen the rupiah, Puteri Komarudin urged Bank Indonesia (BI) to optimise the instrument Devisa Hasil Ekspor Sumber Daya Alam (DHE SDA) in order to maintain exchange rate stability of the rupiah, in response to the depreciation of the rupiah to Rp 17,666 per US dollar. She spoke at the Working Meeting of Commission XI of the DPR RI with Bank Indonesia on Monday 18 May. ‘Certainly, DHE SDA is one policy solution for strengthening our exchange rate today. And what matters is how we can optimise foreign exchange earnings from exports so as to support the stability of the supply of foreign currency in Indonesia,’ Puteri said. She noted that financial-market deepening is needed to attract exporters to park funds in Indonesia. ‘However, we must also admit that the deepening of our financial markets is still lacking. Therefore, what needs attention is how they want to park their funds in Indonesia, when the products they want are not yet available,’ she added. To this end, Puteri urged effective and close coordination with the Financial System Stability Committee (KSSK). ‘Primarily, BI together with the OJK and the Ministry of Finance to further strengthen the mix of economic policies, so that the various policies already in place can strengthen our exchange rate,’ she said. She also highlighted the Macroprudential Liquidity Incentive (KLM) policy issued by BI, which reached Rp388.1 trillion in 2025. ‘Of course, this figure is not small, and the hope is that it can drive accelerated banking intermediation and lower borrowing costs in the real sector. Therefore, BI should consider how the substantial liquidity incentives can lower lending costs while increasing access to financing for the public,’ she stated. BI Governor Perry Warjiyo explained that BI is committed to supporting the DHE SDA policy by sharpening the policy placement of DHE SDA. ‘This is very good. However, since the DHE policy is set by the Government, BI will take a role in sharpening the placement policy for DHE SDA. We have prepared instruments through Bank Indonesia Regulations and coordinated through the KSSK,’ Perry concluded. In the meeting’s conclusions, Commission XI DPR RI and the Governor of Bank Indonesia agreed that BI should sharpen the policy for placing Devisa Hasil Ekspor Sumber Daya Alam (DHE-SDA) to support rupiah stability. BI will also sharpen the measurement of the Key Performance Indicator (IKU) in future reports, including showing liquidity provision to banks, especially for MSMEs.