Indonesia to raise rupiah conversion cap for export proceeds to 100%
The change will take effect after a finance ministerial regulation is revised, with completion targeted for the end of November.
Indonesia plans to allow up to 100% of foreign-currency proceeds from natural-resource exports to be converted into rupiah, raising the current 50% ceiling. Coordinating Economic Affairs Minister Airlangga Hartarto said implementation would follow the completion of revisions to a finance ministerial regulation.
Speaking to reporters on 6 November 2026, Airlangga said the government aimed to finish that revision by the end of November. The higher conversion limit is to be included in the fourth amendment to Government Regulation No. 36 of 2023.
Airlangga attributed the decision to an assessment showing strong demand for rupiah. He said companies needed access to the currency, particularly to cover their operating requirements.
Asked whether changes to the export-proceeds rules had affected foreign-exchange reserves, Airlangga gave no reserve figures. Instead, he pointed to relatively higher export values and a narrowing price disparity. He also said an extension of Article 18A to other countries, including Singapore, had not been made, adding that the government conducts reviews every three months.
