Bank Indonesia Governor Destry Damayanti told the Bangkok meetings (October 12–18) that trading in local currencies reduces reliance on third currencies and limits exposure to global exchange-rate swings. According to the article, Indonesia's Local Currency Transaction volume reached $8.45 billion in early 2026, up 163% year-on-year, with about 16,000 users monthly and QRIS interoperability enabling direct regional settlement. The author argues such payment "plumbing" can cut the frequency of imported shocks more effectively than reserves alone, though thin liquidity, limited awareness among small exporters, and data and cyber risks remain constraints.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on eurasiareview.com ↗
Keywords
exchange ratesIndonesiacentral bankpayments
Open a keyword to see other news on the same topic.
Related tickers and likely impact
XAU/USD
▲ Likely positiveRelevance: low
| Market | Gold |
|---|---|
| Close on 10/19/2026 | 4,140.75 |
| Change that session | -0.60% |
DXY
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/19/2026 | 101.98 |
| Change that session | +0.20% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Bank Indonesia Holds Key Rate; Raises Deposit Facility Rate
Bank Indonesia kept its benchmark rate at 5.75% but raised the deposit facility rate by 25 basis points on Wednesday amid financial market uncertainty. The board of governors, led by Destry Damayanti, made the decision. The central bank has raised rates by a total of 100 basis points since May to stabilize the rupiah amid escalating Middle East tensions.
- Indonesia central bank keeps main rate unchanged, hikes deposit facility rate
Bank Indonesia held its benchmark seven-day reverse repurchase rate at 5.75% on Wednesday, a fourth straight unchanged decision, but raised its overnight deposit facility rate by 25 basis points to 5.00%. Lending facility rates were kept at 6.50%. Only 15 of 29 economists in a Reuters poll had expected a hold, while the rest had forecast a hike of at least 25 basis points to stem the selloff. The decision came as the stock market suffered a record two-day rout and the rupiah hovered near an all-time low, under renewed pressure after an MSCI warning that Indonesian equities could be relegated to “standalone” market status. BI had raised rates by 100 basis points in three moves between May and June to defend the currency.
- The World Is Rewriting The Rules Of Economic Power - OpEd
At the 2026 IMF–World Bank Annual Meetings in Bangkok, held from 12 to 18 October 2026, policymakers faced slower global growth projected at 3.1 percent in 2026 and rising inflation amid geopolitical, cyber and financial shocks. The discussion shifted emphasis from economic size toward resilience, connectivity and adaptability, including G20 targets for faster, cheaper cross-border payments by the end of 2027 and greater use of local-currency transactions. Indonesia's QRIS payment system, with 69.32 million users and links to several Asian countries, was cited as a practical example of payment interoperability. The article concludes that future economic power will depend less on scale than on maintaining multiple payment and trade routes, building trust, and absorbing disruptions without collapsing.
- Indonesia central bank keeps main rate unchanged but hikes deposit facility rate , to cut RRR
Bank Indonesia kept its BI-Rate at 5.75%, although 19 of 38 economists surveyed by Bloomberg expected a hold and the other half expected a hike. Instead, it will cut the banks' reserve requirement ratio by one percentage point from next month and by another point in December, freeing more funds for lending. The decision reflects caution about tightening too early and stalling growth, while supporting the rupiah amid pressure from MSCI's warning of a possible downgrade, a stronger US dollar, high US yields and higher oil prices. The rupiah edged lower to 17,998 per US dollar and the 10-year bond yield held at 7.45%, and Governor Destry Damayanti warned that sustained outflows could strengthen the case for a rate hike at coming meetings.
- Bank Indonesia to Deliver Policy Rates Decision as Capital Market Reels from Chaos
- Indonesia Rate Decision Due On Wednesday
Indonesia's central bank will conclude its monetary policy meeting on Wednesday and then announce its interest rate decision. It is expected to raise its benchmark lending rate, deposit facility rate and lending facility rate by 25 basis points each, to 6.00%, 5.00% and 6.75% respectively. Japan will also release September data on imports, exports and trade balance: imports are expected to rise 19.6% year on year, down from 28.0% in August, while exports are seen up 20.1% from 19.3% the previous month. The trade deficit is pegged at 181.0, after a 1,111.9 shortfall a month earlier.
Related markets
Latest news
- Trump to throw spotlight on overseas crypto abuses at White House event
President Donald Trump is set to highlight his administration's efforts to pursue overseas crypto criminals at a White House cybercrime event on Wednesday, according to an official. U.S. law enforcement has halted about $833 million in crypto tied to overseas scams, and 503 fraudulent crypto websites have been seized under the Homeland Security Task Force. Authorities have also informed almost 9,000 U.S. citizens that they are being victimized. The transnational criminal organizations behind these scams have stolen tens of billions of dollars from Americans, and the Treasury formed a multi-agency Scam Center Strike Force in November. Meanwhile, Trump's personal crypto ties may have become a political liability as the midterm elections approach in a couple of weeks.
- AI is building out the new Industrial Revolution: Nvidia's Jensen Huang
Nvidia CEO Jensen Huang delivered a keynote at the GTC Berlin event, where he emphasized that AI is helping build the new Industrial Revolution. He noted that AI is becoming increasingly integrated into manufacturing processes.
- Musk's SpaceX-Tesla Merger Would Create a Bitcoin Treasury Behemoth
Elon Musk said the boards of SpaceX and Tesla have formed special committees of independent directors to weigh a merger, while cautioning that a deal is not a certainty. Combined, the two would hold 30,221 BTC, worth roughly $2.5 billion at a Bitcoin price near $83,000, making it one of the largest non-mining corporate Bitcoin treasuries. Tesla reported 11,509 BTC in its latest quarterly filing, while SpaceX disclosed 18,712 BTC in its S-1 ahead of its June IPO, a stash largely invisible to public markets and more than double previous blockchain-tracker estimates. The combined cost basis is around $1 billion, implying an average buy price near $35,000 per coin. A merger would not change Bitcoin itself but would alter governance and accounting, placing the holdings in one public company subject to quarterly disclosures; neither company has signaled plans to buy or sell.
- Musk's SpaceX-Tesla Merger Would Create a Bitcoin Treasury Behemoth
Elon Musk said the boards of SpaceX and Tesla have formed special committees of independent directors to weigh a merger, while cautioning that a deal is not a certainty. Combined, the two would hold 30,221 BTC, worth roughly $2.5 billion at a Bitcoin price near $83,000, making it one of the largest non-mining corporate Bitcoin treasuries. Tesla reported 11,509 BTC in its latest quarterly filing, while SpaceX disclosed 18,712 BTC in its S-1 ahead of its June IPO, a stash largely invisible to public markets and more than double previous blockchain-tracker estimates. The combined cost basis is around $1 billion, implying an average buy price near $35,000 per coin. A merger would not change Bitcoin itself but would alter governance and accounting, placing the holdings in one public company subject to quarterly disclosures; neither company has signaled plans to buy or sell.
- Chainlink, Cardano, other blockchain groups push SEC for clearer crypto rules
Six major blockchain organizations, including Chainlink Labs, Cardano Foundation, Hedera, Aptos Labs, Ava Labs and Stellar Development Foundation, urged the SEC in a joint letter dated Oct. 20 to formally classify digital commodities as non-securities. They argued that interpretive guidance alone leaves legal uncertainty, and that this classification should be written directly into the proposed Regulation Crypto Assets framework. The letter also asks for clarity on how securities laws apply to secondary-market transactions, as well as on staking and other activities tied to decentralized blockchain networks. The SEC's proposal, introduced in August, drew roughly 140 public comments over 60 days, and the consultation closed on Tuesday.
- Government to submit new resolution on wage policy to Central Committee
Deputy Prime Minister Phạm Thị Thanh Trà said during a group discussion on the afternoon of Oct. 21 on laws covering labor, employment and social insurance that the Government is drafting a proposal to report to the Political Bureau. The proposal is expected to go to the Central Committee at its Fifth Plenum to issue a new resolution on wage and social insurance policy, replacing Resolutions No. 27-NQ/TW and No. 28-NQ/TW. According to the Deputy Prime Minister, the current amendment to the Social Insurance Law mainly addresses immediate issues such as expanding coverage, while a more fundamental and comprehensive revision will follow the new resolution. For the Employment Law, the focus is cutting unnecessary licenses and reviewing rules on labor leasing, though simplifying procedures does not mean loosening management. Lawmakers also raised rules on depositing funds in joint-stock commercial banks with state capital, and the Government aims for safety, sustainability and timely payment of benefits.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.