Indonesia's export earnings rules set to take effect July 1, says minister

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Indonesia's export earnings rules set to take effect July 1, says minister
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Indonesia will make some exporters retain part of their export earnings onshore for at least three months starting next month.

The resource-rich country has been working on new rules since earlier this year to bolster the domestic supply of U.S. dollars after export earnings reached a record high last year.

Airlangga told Reuters in an interview while the rules are still awaiting the president's signature, they will be applied from July 1. He blamed the delay on the president's workload and said there has been no pushback against it.Airlangga confirmed exporters will not be asked to convert their foreign exchange into rupiah.

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