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In a decisive move to fortify national foreign exchange reserves and stem the rupiah’s recent depreciation, Indonesia’s consortium of state-owned banks, known as Himbara, announced a significant increase in their U.S. dollar (USD) deposit counter rates. This strategic adjustment aims to attract domestic dollar holdings, ensuring greater financial stability and bolstering funding for critical government initiatives.<\/p>\n
On Wednesday, September 24, 2025, the Himbara banks \u2013 comprising Bank Rakyat Indonesia<\/a> ($BBRI<\/strong><\/a>), Bank Mandiri<\/a> ($BMRI<\/strong><\/a>), Bank Negara Indonesia<\/a> ($BBNI<\/strong><\/a>), and Bank Tabungan Negara<\/a> ($BBTN<\/strong><\/a>) \u2013 declared an increment to 4% per annum<\/em> for USD-denominated time deposits. This competitive new rate becomes effective on November 5, 2025<\/Strong>, applying universally across all balance categories and for tenors up to 12 months. The move signals a concerted effort to magnetize onshore dollar funds, a crucial step in strengthening the nation’s financial backbone.<\/p>\n This bold policy directly responds to a prior statement by Finance Minister Purbaya Yudhi Sadewa, who, on Friday, September 19, 2025, outlined government plans for market-based incentives. These incentives specifically target encouraging private holders of USD to deposit their funds domestically. The overarching goals are clear: to enhance national foreign exchange reserves, augment the supply of USD within the banking system, and facilitate smoother funding for the government’s strategic development projects.<\/p>\n The urgency behind this measure is underscored by the rupiah’s recent performance. On the day of the announcement, the Indonesian rupiah (USD\/IDR) traded at 16,676<\/Strong>, marking its weakest point since April 2025. This depreciation signals market anxieties, primarily driven by two key concerns over the past week:<\/p>\n The Himbara banks’ action serves as a proactive defense mechanism, designed to shore up the rupiah’s value against the dollar and inject confidence back into the currency market.<\/p>\nStrategic Imperative: Bolstering Domestic Dollar Holdings<\/H2><\/p>\n
Rupiah’s Resilience Tested<\/H3><\/p>\n
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A Tale of Two Rates: Himbara’s Drive vs. LPS’s Adjustment<\/H2><\/p>\n