Financial Wire

Market Chatter: Indonesia Speeds Up De-Dollarization as Local Currency Use Increases 163%

-- Indonesia is stepping up efforts to reduce reliance on the US dollar, with local currency transactions (LCT) jumping 163% year on year to $8.45 billion in January-February 2026, Jakarta Globe reported Monday.

The number of users has also expanded significantly, with 14,621 participants recorded in February and a monthly average of over 16,000 users, far exceeding the 2025 average of 9,720. Ferry Irawan, a senior official at the Coordinating Ministry for Economic Affairs, said the framework is now widely used across multiple sectors, including manufacturing, energy, transportation, trade and services, according to the report.

Indonesia has LCT arrangements with Malaysia, Thailand, Japan, China, South Korea and the United Arab Emirates, the news outlet reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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