Export-proceeds retention rules and downstreaming mandates reshape corporate liquidity.
Layer one — macro, structured
as of Jul 2026CPI YoY
2.7%
in band
Policy rate
5.25%
BI rate
USD/IDR
16,450
managed
Parallel prem.
n/a
convertible
Reserves
$150b
gross
Sov. spread
88bp
over UST
Layer one — regulatory, unstructured
- Mar 2023Export proceeds retention (DHE SDA) tightenedGovernment regulation
- 2024Nickel and bauxite downstreaming export bansMinisterial regulation
- 2026100% retention for 12 months on resource exportsPP 8/2026
- 2026RCEP tariff schedule phase-inCustoms regulation
USD/IDRJan 22 → Sep 25
16,60014,300
Jan 22Sep 25
Indicative monthly path reconstructed for illustration — pin exact fixes to central bank data before client use.
Covered names — by market capitalisation
2 names · drill into a name for its exposure vector| Ticker | Name | Sector | Mkt cap (USD bn) | Net exposure | Status | Leads |
|---|---|---|---|---|---|---|
| BBCA | Bank Central Asia | Financials | 72.0 | +0.32 | WATCH | 2 |
| ADRO | Adaro Energy Indonesia | Mining | 8.4 | -0.26 | ACT ON WINDOW | 4 |