Arnoldus Kristianus, Jakarta – The Indonesian government obliges exporters of natural resources to keep at least 30 percent of their foreign exchange revenues at local financial institutions for at least three months.
The ruling is stipulated in government regulation no. 36 on export revenues from the business, management, and processing of natural resources.
Coming into effect from August 1, the ruling aims to "maintain sustainable development and enhance national economic resilience, while also optimizing the utilization of natural resources for people's prosperity".
Article 6 of the regulation stipulates that exporters must deposit their foreign exchange revenues to a special account in local banks that manage foreign currency savings.
It applies to foreign exchange revenues of at least $250,000 or its equivalent.