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Jakarta Post

Bankers see hedging relaxation effective in boosting FX swaps

News Desk (The Jakarta Post)
Jakarta
Wed, September 26, 2018

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Bankers see hedging relaxation effective in boosting FX swaps A money changer serves a customer at ITC Kuningan shopping center. (Antara/Puspa Perwitasari)

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ankers deem the hedging relaxation policy stipulated in a recently issued Bank Indonesia regulation  as an effective way to boost foreign exchange (FX) swap transactions.

State-owned lender Bank Rakyat Indonesia’s (BRI) senior executive vice president of treasury and global services, Listiarini Dewajanti,  said bank customers involved in hedging transactions, particularly FX swaps, mostly came from corporations or had high incomes.

“With the relaxation, apart from boosting hedging volume, it is expected to increase the inflow of foreign exchange from exports,” Listiarini said as quoted by kontan.co.id on Wednesday.

Meanwhile, state-owned lender Bank Negara Indonesia’s (BNI) treasury business and international director, Rico Rizal Budidarmo, said debtors from large corporations, both state-owned enterprises and private companies, had started to recognize the importance of hedging to mitigate risk.

 “We encourage debtors to not only focus on short-term hedging but also long-term hedging, between six to 12 months,” Rico added. (bbn)  

 

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