Bank Indonesia Amass IDR 2,6 Billion From Export Foreign Exchange

Bank Indonesia has managed to accumulate a total of USD 173 million or approximately IDR 2,6 billion from the foreign export exchange. Denny Prakoso as the Director Director of the BI Monetary Management Department said that the number obtained since March 2023. This was after the implementation of the domestic placing of export proceeds.

Export proceeds were still collected two weeks after the regulation was implemented. The obtained export proceeds also are in the form of foreign currency deposit terms. This is obtained from nine sectors in the mining and agriculture department. Bank Indonesia will store the export proceeds from 6 banks that acted as participants. 

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“It is good progress, and we’re very optimistic. After the consolidation times, from both banking and exporter, we are expecting an increasing number in the future,” Denny Prakoso said at Royal Ambarrukmo, Yogyakarta on Saturday, March 18, 2023.

Furthermore, there are 20 banks counted as participants in foreign currency deposit terms.  The government hoped to improve the Indonesian economy. While also cultivating foreign exchange further.  In addition, the government also expects the regulation to help pay the government debt.

Bank Indonesia mentions that the number of participants in the monetary operation will increase and be evaluated periodically.

Source: CNN Indonesia

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