# Indonesia to offer carrot to US dollar hoarders to boost rupiah - The Business Times

> Indonesia is close to finalizing incentives for exporters holding billions of dollars offshore or in banks, aiming to convert those funds into rupiah. Bank Mandiri's president said special deposit accounts could be offered within one or two months, and the government has already required commodity shippers to convert half of their earnings locally.

- Date: 2018-09-27 · published 2018-09-27T12:00:00.000Z
- Category: policy · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/63358-indonesia-to-offer-carrot-to-us-dollar-hoarders-to-boost-rupiah-the-business
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Converting export dollars into rupiah could temporarily strengthen the currency, lowering import costs for Indonesian feed and food buyers, while commodity exporters face new conversion rules.

## Read by commodity

- USDIDR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-01-27 | [Indonesia wants palm oil exporters to trade on local exchanges - The Business Times](https://feedsoft.ai/events/15762-indonesia-wants-palm-oil-exporters-to-trade-on-local-exchanges-the-business.md) | -1.9% | +2.1% |
| PALMOIL | 2020-12-02 | [Indonesia looks at policy revamp to keep biodiesel programme alive - The Business Times](https://feedsoft.ai/events/49527-indonesia-looks-at-policy-revamp-to-keep-biodiesel-programme-alive-the-business.md) | +0.2% | +4.2% |
| PALMOIL | 2017-12-01 | [The hidden cost of Indonesia’s biodiesel mandate to consumers](https://feedsoft.ai/events/67870-the-hidden-cost-of-indonesia-s-biodiesel-mandate-to-consumers.md) | -5.1% | -5.4% |
| PALMOIL | 2023-03-17 | [Indonesia pledges policy transparency with new palm oil exchange - The Business Times](https://feedsoft.ai/events/15748-indonesia-pledges-policy-transparency-with-new-palm-oil-exchange-the-business.md) | -2.8% | -6.4% |
| PALMOIL | 2021-01-11 | [Indonesia refined palm oil exports to rise in 2021 on tax changes - Markets - Business Recorder](https://feedsoft.ai/events/49037-indonesia-refined-palm-oil-exports-to-rise-in-2021-on-tax-changes-markets.md) | -6.2% | -12.3% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/international/indonesia-offer-carrot-us-dollar-hoarders-boost-rupiah

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.