Antara News · আন্তর্জাতিক

Indonesia's forex hedging incentives draw $9.9 bln in foreign capital

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Jakarta (ANTARA) - Bank Indonesia (BI) said that its foreign exchange hedging incentive scheme has attracted US$9.9 billion in foreign capital inflows between its launch in June and October 20, 2026.

The facility offers incentives for Domestic Non-Deliverable Forward (DNDF) contracts and foreign exchange (FX) buy-swap instruments placed with the central bank.

BI also provides incentives for bilateral trade settlements conducted through Local Currency Transactions (LCT) with partner countries.

"Since introducing this policy package in June — encompassing both swap and DNDF mechanisms — we have successfully drawn inflows reaching US$9.9 billion as of October," BI Governor Destry Damayanti said during a press conference here on Wednesday.

She underscored the central bank’s commitment to maintaining rupiah stability through an optimized monetary policy. This includes expanding incentive mechanisms to bolster foreign portfolio inflows and accelerating the structural deepening of the domestic foreign exchange and money markets.

"Bank Indonesia continues to reinforce policy measures to safeguard the rupiah against global volatility," Damayanti said.

After strengthening through mid-September 2026, the rupiah traded at Rp17,985 per U.S. dollar on October 20, depreciating 0.61 percent point-to-point from the end of September.

The central bank attributed the currency's depreciation to heightened geopolitical tensions in the Middle East, a hawkish monetary policy trajectory from the U.S. Federal Reserve, and risk-off sentiment among foreign investors in the domestic equity market.

"Looking ahead, Bank Indonesia expects the rupiah to remain stable, anchored by our policy commitments, attractive asset yields, well-managed inflation within our target corridor, and solid macroeconomic fundamentals," Damayanti concluded.

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