Rupiah-Singapore Dollar Transaction Settlement Faces New Value Caps: US$1 Million Documentation Threshold and Rp1.25 Trillion SNA Limit Introduced

Bank Indonesia (“BI”) has issued Regulation of the Board of Governors No. 25 of 2026 on the Settlement of Bilateral Transactions Between Indonesia and Singapore Using Rupiah and Singapore Dollars Through Banks (“Regulation 25/2026”).

As the title suggests, Regulation 25/2026 establishes a structured operational framework to facilitate and govern the settlement of bilateral transactions between Indonesia and Singapore using Rupiah and Singapore Dollars through Appointed Cross-Currency Dealer (“ACCD”) Banks.[1] Regulation 25/2026 is specifically designed to stabilize the value of the Rupiah and deepen the domestic foreign exchange market by encouraging the use of local currencies in current account activities and direct investments.