Updates on Foreign Exchange Market Transaction Requirements
On May 26, 2026, the Members of the Board of Governors of Central Bank of Indonesia (“Bank Indonesia”) enacted Regulation (Peraturan Anggota Dewan Gubernur or PADG) No. 11 of 2026 on Second Amendment to Board of Governors Member Regulation No. 11 of 2024 on Foreign Exchange Market Transactions (“PADG 11/2026”). PADG 11/2026 came into effect as of June 2, 2026.
PADG 11/2026 was introduced as a monetary policy of Bank Indonesia to support the stability of Rupiah, in response to continued pressure on the Rupiah exchange rate arising from global financial market uncertainty and increasing domestic demand for foreign exchange. Under PADG 11/2026, Bank Indonesia adjusts the threshold applicable to cash foreign exchange purchases against Rupiah that are subject to underlying transaction document requirements.
PADG 11/2026 reduces the threshold for cash foreign exchange purchases against Rupiah that may be conducted without any underlying transaction. Previously, a person could purchase foreign currency in cash of up to USD50,000 (or its equivalent) per month per person without any underlying transaction. Under PADG 11/2026, the limit is reduced to USD25,000 (or its equivalent) per month per person.
PADG 11/2026 does not alter the existing limits applicable to derivative products. The thresholds for forward and domestic non-deliverable forward transactions remain at USD100,000 (or its equivalent) per month per person for buy transactions and USD10,000,000 (or its equivalent) per transaction for sell transactions. Furthermore, the limit applicable for swap transactions also remains unchanged at USD10,000,000 (or its equivalent) per transaction. Other derivative products continue to be subject to limits of USD100,000 (or its equivalent) per month per party for buy transactions and USD1,000,000 (or its equivalent) per transaction for sell transactions.
In light of the new threshold introduced under PADG 11/2026, Bank Indonesia provides temporary relaxation for cash foreign currency purchases exceeding USD25,000 and up to USD50,000 (or its equivalent) per month per person carried out between June 2, 2026, and June 30, 2026. For these transactions, the underlying transaction documents and/or supporting documents may be submitted no later than July 31, 2026.
AKSET
Please contact Johannes C. Sahetapy-Engel (jsahetapyengel@aksetlaw.com) or Shafa Femalea Sekar Nuswantari (snuswantari@aksetlaw.com) for further information.
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