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BNI expects $25b forex deposit from exporters
State-owned PT Bank Negara Indonesia (BNI), the nation’s fourth-largest bank by assets, expects to obtain US$25 billion in foreign exchange (forex) deposits stored by exporters, who are the lender’s clients
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tate-owned PT Bank Negara Indonesia (BNI), the nation’s fourth-largest bank by assets, expects to obtain US$25 billion in foreign exchange (forex) deposits stored by exporters, who are the lender’s clients.
Bank Indonesia (BI) now requires companies to deposit their forex export earnings and debts to domestic banks, effective as of June this year. The move could result in local banks gaining more forex liquidity, although there is no minimum deposit period requirement.
BNI has so far experienced about $12 billion in incoming forex liquidity from exporters, the bank’s international division general manager, Abdullah Firman Wibowo, told a limited press briefing on Thursday.
“This is the exporters’ responsibility, so we are upbeat about meeting the [$25 billion] target,” Firman said.
