Reported about 7 hours ago
Indonesia is enforcing a new regulation requiring commodity firms to keep export earnings onshore for at least one year, starting March 1. This move aims to strengthen foreign-exchange reserves and bolster the rupiah amid increasing currency pressure. Exporters express concern that the rule could strain their cash flow, leading to larger loans and potential layoffs in mining and plantation sectors. The regulation represents a significant policy shift under the new administration of President Prabowo Subianto.
Source: YAHOO