“Yes, there are exemptions for partner countries. We will monitor them later, one of them for example is the United States,” Hartarto said in a statement.
The provision is regulated under Government Regulation (PP) No. 21 of 2026, which revises PP No. 36 of 2023 on Foreign Exchange Proceeds from the Exploitation, Management, and/or Processing of Natural Resources.
Under the regulation, the government provides flexibility for the implementation of bilateral trade agreements and certain arrangements, and will take effect on June 1, 2026.
Through the new rules, natural resource exporters are required to deposit 100 percent of their export foreign exchange proceeds into accounts at state-owned banks grouped under known as Himbara.
Exporters are also required to retain at least 30 percent of export proceeds for the oil and gas sector and 100 percent for the non-oil and gas sector in special accounts within the Himbara banking system.
The funds must be retained for a minimum of three months for oil and gas commodities and 12 months for non-oil and gas commodities.
The government also reduced the mandatory conversion requirement of foreign currency export proceeds into rupiah from 100 percent previously to a maximum of 50 percent.
For bilateral trade agreements, export proceeds originating from the mining sector is required to maintain a minimum retention of 30 percent for at least three months and may be placed in non-Himbara banks.
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Translator: Bayu Saputra, Kuntum Khaira
Editor: M Razi Rahman
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