Bank Indonesia and the Indonesian Money Market and Foreign Exchange Market Association, APUVINDO, held a High Level Meeting in Jakarta. BI Governor Destry Damayanti used the meeting to set out four strategic priorities for 2027 under the BPPU 2030 blueprint.
Damayanti said the deepening of the money and FX market cannot stop at the availability of regulations and infrastructure. She said it must be reflected in higher transaction activity, broader participation of competent market players, better price formation, and stronger governance and market integrity.
Four priorities for 2027
The first priority is money market development. It covers Commercial Securities, known as SBK, the INDONIA reference rate, and liquidity in the OIS market. The second is FX market development, including access to hedging, the VASTRA system, and a Renminbi ecosystem.
The Renminbi ecosystem includes the Renminbi Clearing Bank, which will support the Indonesia-China Local Currency Transaction, or LCT. The third priority is strengthening market players. It covers SKKNI and KKNI competency standards, the certification body LSP Tresuri Indonesia, and a code of ethics. The fourth is infrastructure, including a central counterparty and a tri-party agent repo.
Membership and cooperation
APUVINDO had 121 members as of October 2026. Of these, 105 are banking institutions and 16 are non-bank and financial market infrastructure members.
BI and APUVINDO say they are working together on product development, market participation and infrastructure. The aim is a money and FX market that is more liquid, efficient and credible, supporting monetary transmission and financial stability. The meeting cited repo transactions, the strengthening of INDONIA as a reference rate, and hedging and FX instruments as achievements so far.
