Bank Indonesia Sets A New Limit For Purchasing Foreign Currency (US$)

In an attempt to assist the stabilization of the Indonesian currency, Bank Indonesia (BI) changed the limit of the maximum value of foreign currency (US$) purchased through a spot transaction which is done without a specific purpose (underlying documents), from US$ 100,000 per month for each customer/foreign party to US$ 25,000 or equivalent per month for each customer. This new limit is set out under Bank Indonesia Regulation No. 17/13/PBI/2015 on the Second Amendment to Bank Indonesia Regulation No. 16/16/PBI/2014 on Foreign Currency Against Rupiah Transactions Between Banks and Domestic Parties.

Meanwhile, if derivative transactions are being used, then purchases are capped at US$100,000 or its equivalent per customer per month. Furthermore, if a customer is engaging in forward or option transactions, then the threshold is set at US$1 million or its equivalent per customer per transaction.