Calculate Profits from Expansion of Dollarization for Indonesia

Jakarta, Armfalcon.com- Following in the footsteps of the BRICS, Indonesia together with ASEAN countries, Japan and South Korea continue to work to reduce dependence on the US Dollar through Local Currency Settlement (LCS).

Head of macroeconomis & Financial Research BSI, Kahfi Riza said Bank Indonesia’s move to strengthen LCS cooperation with partner countries was a positive step in reducing dependence on the US Dollar. Although the impact on rupiah stabilization is still limited, it can reduce the volatility of the Garuda currency against the greenback.

For exporters, General Chair of the Association of Indonesian Export Companies (GPEI), Benny Soetrisno said business actors welcomed the LCS rules for medium to long term export-import activities. However, broader socialization is still needed for business actors to implement the LCS cooperation rules.

What is the urgency and effect of dedollarization? For details, see Anneke Wijaya’s dialogue with the Head of Macroeconomics & Financial Research BSI, Kahfi Riza and General Chair of the Association of Indonesian Export Companies (GPEI), Benny Soetrisno in the Power Lunch,CNBCIndonesia (Monday, 08/05/2023)