Information about the organisation, transformation and history of Bank Indonesia as the central bank of the Republic of Indonesia.
Information about the main functions and responsibilities of Bank Indonesia to achieve and maintain rupiah stability.
Information about the rupiah as the currency of the Republic of Indonesia managed by Bank Indonesia pursuant to prevailing laws and regulations.
Bank Indonesia’s publications include regulations, reports and papers, as well as the calendar of activities
Statistics include historical indicators for all sectors under the jurisdiction of Bank Indonesia.
Bank Indonesia offers various services, including requests for information, complaints, licensing and so on.
Bank Indonesia maintains public information in accordance with the Public Information Disclosure Act of 2008.
Businesses and banks in
Indonesia and China have welcomed the joint initiative of Bank Indonesia and
the People’s Bank of China (PBoC) to implement Local Currency Settlement (LCS)
between both countries. LCS brings a range of benefits, including: (i) more
efficient transaction conversion costs, (ii) alternative export
financing/direct investment opportunities in the local currency, (iii)
alternative hedging instruments in the local currency, and (iv) diversification
of currency exposure in transaction settlement.
That was the key topic at today's (08/09) webinar, entitled “Local
Currency Settlement: Benefits and Practices for Business” organised by the Bank
Indonesia Representative Office in Beijing, which attracted 400 virtual
participants from the business and banking worlds located in Indonesia and
In his speech, BI Deputy
Governor, Dody Budi Waluyo, expressed hope that the LCS framework would be adopted
widely and actively by businesses to support the national economic recovery,
adding that the LCS framework demonstrates strong development progress and
future potential in terms of transaction value, frequency and users.
Ambassador to China and Mongolia, Djauhari Oratmangun, took the opportunity to
comment how the BI and PBoC initiative will increase trade and investment
cooperation between Indonesia and China. “I am also optimistic that economic
linkages between Indonesia and China will strengthen with the support of
commitments in both countries to increase cooperation moving forward,” said
Panji Irawan, Managing
Director of Treasury and International Banking at Bank Mandiri confirmed that
Bank Mandiri has been approved as an Appointed Cross Currency Dealer (ACCD) and
expressed appreciation to BI and PBoC, while giving his assurance that Bank
Mandiri was prepared for full LCS implementation. LCS implementation has
massive potential in line with the growing trend of transactions and direct
investment between Indonesia and China.
Implementation of the
LCS cooperation framework between Indonesia and China is expected to help
reduce currency pressures on the rupiah and deepen non-USD foreign exchange
markets in the region. The LCS framework
between Indonesia and China includes direct exchange rate quotations for
transactions between rupiah and yuan, coupled with the relaxation of specific
regulations to encourage use of the local currency.
Since 2018, Bank
Indonesia has maintained LCS cooperation with Malaysia and Thailand to foster
use of the local currency by businesses when settling bilateral trade
transactions. In August 2020, similar
cooperation was implemented with Japan and on 6th September 2021,
LCS cooperation with China became effective.
Bank Indonesia constantly coordinates with relevant government
ministries and agencies to ensure the LCS framework is adopted widely by
businesses in Indonesia and facilitated by banks approved as Appointed Cross
Currency Dealers (ACCD).
Jakarta, 8th September 2021
of Communication Department
Information about Bank Indonesia
Contact Center BICARA : (62 21) 131
E-mail : firstname.lastname@example.org
Working hours: Monday to Friday, 08.00-16.00 West Indonesia Time
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