Kamis 12 Sep 2013 00:03 WIB

Foreign exchange from export (DHE) increases

Rep: Satya Festiani/Mutia Ramadhani/ Red: Yeyen Rostiyani
Textiles industry is among biggest contributor to Indonesia's foreign exchange.  (illustration)
Foto: Republika/Prayogi
Textiles industry is among biggest contributor to Indonesia's foreign exchange. (illustration)

REPUBLIKA.CO.ID, JAKARTA - The flow of foreign exchange from export (DHE) to domestic banking increased in the first semester of 2013, from 62,623 million USD to 64,409 million USD. It equals to 84 percent of total DHE value in 2013.

However, Executive Director of Department of Communication in Bank Indonesia (BI), Difi A Johansyah said DHE that was received through offshore banks decreased from 14,323 million USD to 12,257 million USD or 16 percent of total value.

"Five main commodities contribute to DHE are coal, palm oils, chemical products, textiles and textile products and electrical appliances," Johansyah said recently.

BI has suspended services export of 145 companies during second quarter of 2013. It was conducted to improve exporter's compliance against DHE policy. Most of them are textile exporters, aluminum, animal and husbandry products, chemical products and exporters of metal products.

Difi said that BI continued to monitor compliance of oil and gas exporter through report of incoming transfer from abroad, as well as report of Export Transaction Details that were delivered through domestic foreign exchange banks. BI also improved understanding of exporters and banks to increase their effectiveness of DHE's implementation.

Economist of Standard Chartered, Fauzi Ichsan said DHE policy gave profits to local banks in the country. Foreign exchange liquidity in national banks is still large, but still concentrated in large banks. To increase DHE into Indonesia, government should provide incentives for exporters.

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