JAKARTA, Dec 8 (Reuters) - Indonesia will from January 1 require natural resource exporters to deposit and hold all foreign currency earnings in state-owned banks, CNBC Indonesia reported on Monday, citing a government document.

Under the current rules introduced in early January, exporters must for at least one year keep all proceeds from sales of natural resources like coal, palm oil and nickel within the Indonesian banking system, including privately-owned banks.

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The proceeds could be used for business operations if converted into rupiah, with authorities encouraging foreign exchange swaps if exporters were reluctant to convert.

Under the new regulations, only a maximum of 50% of the proceeds can be converted into rupiah for operational use, down from 100% in the previous rules, CNBC Indonesia reported.

Exporters could place their foreign currency deposits in foreign currency denominated government bonds that are issued on the domestic market, the news website said.

Indonesia's finance and economic ministries, the president's office and the central bank did not immediately respond to request for comment.

https://www.reuters.com/world/asia-pacific/indonesia-revise-retention-rules-export-earnings-new-year-cnbc-indonesia-2025-12-08/