Good News For Bankers And Exporters, DHE Incentives Launch March 1, 2023

Illustration (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) Governor Perry Warjiyo ensured that the export-results (DHE) exchange incentives for banks would soon launch starting early next month.

According to Perry, this policy applies to banks that mobilize customer dollar deposits to BI through the Valas Term Deposit (TD) scheme.

Bank Indonesia will continue to offer this foreign exchange every week for banks so that they continue to exchange export returns to be placed in special accounts. We will apply this as of March 1, 2023," he said during a press conference after the Board of Governors' Meeting in Jakarta, Thursday, February 16.

Perry explained that the provision of DHE incentives depends on the length of the foreign exchange in deposits at the central bank.

"It can take one month, three months, three months, and six months," he said.

In order to encourage the interest of business actors, BI will also set a competitive interest rate with other countries.

"Of course, the most savings will be more competitive. Likewise with the length of savings. So this will encourage the mobilization of foreign currency to Bank Indonesia," he said.

For information, this policy was taken by the monetary authority since the end of last year because of indications of placing dollars abroad by Indonesian business actors. In fact, Indonesia's export score is quite high driven by a surge in the price of superior commodities.