Indonesia to keep export earnings at home for a year


Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto. — Reuters

JAKARTA: Indonesia will require commodity exporters to keep part of their foreign currency earnings onshore for at least one year in a bid to boost foreign reserves, according to a senior minister.

That is much longer than the current requirement of three months, with a revised regulation to be issued soon, Coordinating Minister for Economic Affairs Airlangga Hartarto said on Wednesday.

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