BI Reveals Indonesia-China-Japan US Dollarless Transactions Reach 12 Billion US Dollars
JAKARTA - Bank Indonesia (BI) stated that the transaction agreement using local currency between Indonesia, China and Japan has been actively utilized.
BI Governor Perry Warjiyo explained that BI continues to strengthen and expand international cooperation in the banking sector, including connectivity of payment systems and transactions using local currencies.
He added that the transaction value included in the Local Currency Transaction (LCT) program was recorded at 7 billion US dollars for China and 5 billion US dollars for Japan.
In total, transactions without US dollars reached 12 billion US dollars, or equivalent to Rp200.37 trillion.
"The Local Currency Transaction which continues to be expanded is not only with ASEAN, but also with China and Japan, even the value of transactions with local currencies with China 7 billion US dollars and Japan 5 billion US dollars," he said at a press conference on the Financial System Stability Committee (KSSK) IV in 2025, Monday, November 3.
Previously, Coordinating Minister for Economic Affairs Airlangga Hartarto said that the Government was committed to strengthening the national economic foundation, one of which was through cooperation in local currency transactions or Local Currency Transaction (LCT) with several partner countries such as Malaysia, Thailand, Japan, China, South Korea, and the United Arab Emirates.
He explained that an LCT system that is integrated with digital payments such as QRIS allows Indonesians to carry out cross-border transactions without relying on US dollars or credit cards.
In fact, according to Airlangga, the current use of QRIS has exceeded the use of credit cards in the country.
"QRIS apparently overtook the use of credit cards, so various operators began to see how fast we could move," he explained at the Prabowo-Gibran Government 1 Year event, Thursday, October 16.
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Dia menyebutkan, jumlah pengguna QRIS kini telah mencapai 56 juta, yang mencerminkan ketahanan ekonomi digital Indonesia.
"Jadi kita mempunyai resilience. Jadi jangan khawatir di bidang digital itu kita kalah,” tegasnya.
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He said the number of QRIS users has now reached 56 million, reflecting the resilience of Indonesia's digital economy.
"So we have resilience. So don't worry about losing in the digital field," he said.