Indonesia plans to introduce incentives to encourage consumers to keep their dollars in the country.

According to Indonesia's newly appointed Finance Minister, Pulbaya, Indonesia is finalizing relevant incentive measures aimed at increasing the attractiveness of holding US dollars domestically for citizens, in order to boost foreign exchange reserves. In a statement, he pointed out that these incentive measures are designed to curb the regular outflow of foreign exchange by some citizens, thus increasing foreign exchange reserves and boosting the supply of US dollars in domestic banks. He added that this plan could also provide support for US dollar financing for government strategic projects. Market-based incentive measures are expected to be implemented in the near future.