Jakarta (VNA) - Bank Indonesia will continue tightening controls on foreign currency purchases lacking supporting documents verifying the intended purpose of use, in a fresh move aimed at curbing speculation and easing pressure on the rupiah.
The central bank announced on May 23 that starting from June 2026, the threshold for foreign currency purchases that do not require supporting documentation will be lowered from 50,000 USD to 25,000 USD per transaction.
Ruth Cussoy, director of Bank Indonesia's Financial Market Development Department, said the move follows an earlier policy that reduced the threshold from 100,000 USD to 50,000 USD.
According to the central bank, average daily foreign exchange transactions conducted without underlying documents declined from around 78 million USD to approximately 62 million USD after the previous threshold was lowered to 50,000 USD.
It emphasised that foreign exchange purchases for legitimate purposes, including imports, education and business activities, will remain permitted, adding that the policy is aimed at limiting speculative transactions rather than restricting real economic demand./.
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