Indonesia Moves to Require Export Proceeds Held in State Banks From Early 2026

JAKARTA, Investortrust.id — Indonesia requires exporters to place natural resource export proceeds in state owned banks from early 2026 to strengthen oversight of foreign exchange flows and improve dollar liquidity in the domestic market. The government introduces the measure as part of a revision to DHE SDA rules aimed at tightening placement practices and limiting inefficient currency conversions.

Finance Minister Purbaya Yudhi Sadewa said the rule change followed findings that many exporters converted their foreign exchange into rupiah, only to switch back into dollars for overseas transfers, a cycle he described as wasteful. “It was not effective,” he said on Monday. “So rather than complicating everything, we put it in Himbara.”

The new rules form part of the government review of Government Regulation No 8 of 2025, which governs export proceeds from natural resource activities. The shift is intended to help ensure that incoming dollars remain in the financial system longer, giving policymakers greater control over liquidity.

A key adjustment concerns the amount of foreign currency that may be converted into rupiah. Exporters had been free to convert up to 100 percent of their proceeds, but the revision cuts the allowance to 50 percent to preserve a larger pool of dollars onshore. Fiscal Policy Agency Chief Febrio Nathan Kacaribu confirmed the change, noting that the restriction was designed to expand the availability of foreign exchange.

The government retains a 12 month retention period for holding export proceeds onshore. Authorities have already briefed banks and exporters on the revised framework, and further coordination will proceed through the Interministerial Committee and the legal harmonization process before the regulation is enacted.

The adjustment follows earlier evaluations by the Coordinating Ministry for Economic Affairs and Bank Indonesia. Officials said the current policy needed fine tuning because shifting global conditions had disrupted normal export payment cycles, which typically completed within three to six months.

Susiwijono Moegiarso, Secretary at the ministry, said many payments had been delayed due to global uncertainty, making it harder to assess the impact of the rules. He added that the review also examined how export proceeds placed in the domestic system contributed to rupiah conversion. “What is the effect on forex supply” he said, noting the evaluation remained internal to the government and Bank Indonesia.

Officials said the next stage would involve inviting business groups to provide feedback as policy adjustments move toward finalization.