April 22, 2026 | 07:45 pm
TEMPO.CO, Jakarta - Bank Indonesia (BI) will make an exception to the prohibition of non-deliverable forward (NDF) foreign exchange transactions involving the Indonesian rupiah in the offshore market. This exception applies to banks that are the main dealers in the money market and foreign exchange market.
Senior Deputy Governor of BI, Destry Damayanti, stated that the exception is intended to strengthen monetary operations through offshore NDF intervention. "So, we want this as one way to maintain rupiah stability in the NDF market," she said during a press conference following the BI Board of Governors meeting held online on Wednesday, April 22, 2026.
BI's Senior Deputy Governor, Thomas Djiwandono, added that the exception facility will be granted after the banks submit a request to Bank Indonesia. Additionally, several requirements must be met.
The first requirement is not to engage in NDF foreign exchange transactions involving the Rupiah with affiliate banks abroad. The second requirement is to only use NDF transactions when conducting Rupiah foreign exchange covering.
"The third is to have a credit support annex or a margin line support agreement with a minimum of 6 domestic banks or be a member of a central counterparty," said Thomas.
Furthermore, the final requirement is to submit reports to BI in the specified format. Fulfillment of these four requirements must be maintained for three months and will be reviewed by BI.
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