LCT Kian Menguat, Indonesia Pekuat Penggunaan Mata Uang Lokal dalam Perdagangan Global

JAKARTA - Indonesia's trade structure is considered to have great opportunities to expand the use of local currency transactions, given that the majority of major trading partners come from countries with non-dollar economies.

This condition is reflected in the stable trade surplus, which in February 2026 was recorded at around US$1.27 billion, mainly supported by non-oil and gas commodity exports such as coal, palm oil, and iron and steel.

Meanwhile, the contribution of State-Owned Enterprises (BUMN) in the Local Currency Transaction (LCT) scheme is currently in the range of 10 percent to 19 percent of the total transaction.

Deputy for Coordination of Management and Business Development of SOEs, Ministry of Coordinating Economic Affairs, Ferry Irawan, said the figure showed an increasing trend as well as opportunities for development that were still wide open.

He added that the government together with Bank Indonesia continues to strengthen the LCT framework to encourage the diversification of bilateral payments, increase market efficiency, and deepen the financial sector. These efforts are also aimed at reducing exchange rate volatility and strengthening the resilience of the national economy.

Since its introduction in 2018, the implementation of LCT has continued to grow and now covers various strategic sectors such as manufacturing, energy, transportation, trade, and services, and this confirms the role of LCT as an important instrument in strengthening the value of the rupiah and supporting real economic activity.

By 2025, LCT cooperation has been established with six major partner countries, namely Malaysia, Thailand, Japan, China, South Korea, and the United Arab Emirates.

He said that strengthening bilateral cooperation was a significant step in deepening regional financial integration and encouraging the wider use of local currencies.

Ferry said the performance of LCT transactions showed a consistent growth trend, where from January to February 2026, the transaction value reached around US$8.45 billion, a sharp increase compared to the same period last year of US$3.21 billion.

"This growth is also supported by an increase in the number of users which reached 14,621 in February 2026, with an average of 16,030 users per month, far above the monthly average in 2025 of 9,720 users," he explained in his statement quoted Sunday, April 12.

Ferry said that in its implementation, LCT allows the completion of cross-border transactions using local currencies without relying on the US dollar.

He added that this system is supported by three main pillars, namely the flexibility of Foreign Exchange Administration (FEA), supervision and monitoring mechanisms, and the role of Appointed Cross Currency Dealer (ACCD).

To optimize the use of LCT, the government has formed a National Task Force involving 10 ministries and agencies, and this team is tasked with strengthening policy coordination and accelerating the adoption of local currency transactions, especially in export and import activities.

In addition, he added that the government is also committed to providing various facilities, incentives, and simplifying processes for business actors to increase efficiency and reduce transaction costs in international trade.

"The development of LCT is a concrete and strategic step towards increasing efficiency, reducing external vulnerability, and strengthening multilateral financial cooperation. Through continued collaboration between the Government, financial institutions, and business actors, we can build a more resilient, integrated, and sustainable economic ecosystem," concluded Ferry.