DHE Valas Deposit Term Launched, BI Facilitates Domestic Exporters

Illustration of Bank Indonesia (Photo: Antara)

JAKARTA - Bank Indonesia (BI) launched the monetary operation instrument Term Deposit Foreign Exchange Export Results (TD Valas DHE) which was effective on March 1, 2023. This is to facilitate the placement of DHE by exporters in BI through designated banks (placed banks).

"This instrument aims to encourage DHE absorption to support the stability of the rupiah exchange rate and strengthen the domestic economy," said Director of the Communication Department Fadjar Majardi quoting a written statement, Thursday, March 2.

Exporters can place funds from DHE's special account (Raksus) through the bank's appointed to Bank Indonesia.

As of March 1, 2023, for the initial stage, there are 20 appointed banks that can place DHE exporter funds through TD Valas DHE at Bank Indonesia.

The excess placement in the instrument is that competitive foreign exchange interest rates pay attention to nominal and tenor tiering. Also, the exception of funds from components of third party funds (DPK) for minimum mandatory demand calculation (GWM) and macroprudential intermediation ratio (RIM).

In addition, the advantages obtained are agents fees or spreads to banks paying attention to the TD Valas DHE tenor.

This policy is regulated in PBI No. 24/18/PBI/2022 concerning the Second Amendment to PBI No. 21/14/PBI/2019 concerning Foreign Exchange Export Results and Import Payment Foreign Exchange, which is part of the implementation of the results of the Board of Governors' Meeting (RDG) in December 2022.