Product & Services

A. Foreign Exchange Transaction

TOD 

TOD transaction is a foreign exchange transaction of buying or selling foreign currencies where the settlement is done in the same day with the deal date when transaction occurred.

TOM 

TOM transaction is a foreign exchange transaction of buying and selling foreign currencies where the settlement is done 1 (one) business day after the deal date when transaction occured.

SPOT

SPOT transaction is a foreign exchange transaction of buying or selling foreign currencies where the settlement is done 2 (two) business days after the deal date when transaction occured.

FORWARD 

FORWARD transaction is a foreign exchange transaction of buying or selling foreign currencies where the settlement is done more than 2 (two) business days after the deal when transaction occured.

SWAP 

SWAP transaction is a transaction of "sell-buy" or "buy-sell" of one currency to another which is done at the same time, with the same counter party, base on agreeable exchange rate and term, in consideration of interest rate differential of both currency.

B. Foreign Currencies

USD, JPY, EUR, SGD, CHF*, AUD*, HKD, GBP*, THB , CNY (for TT), USD, JPY (for Bank Notes and TC)

*Notes:

  • TT only.
  • Especially for GBP, AUD and CHF currencies can only be done for TOD transactions.


C. Benefit and Risk

Benefit

  • To fulfill and accommodate the customer needs. 
  • As one alternative hedging instrument of customer for example export process, foreign 
  • exchange obligation and maturity loan.

Risk

1. Market Risk

Risk occurred due to market interest fluctuation.

2.  Operational Risk

The dysfunction of internal process, human error, system failure or external problem.

 

FX Transaction

 

Foreign Exchange Transaction

Type of Forex Transaction

Nominal Transaction

Required Documents

Underlying Transaction

Statement Letter

Fotocopy ID and NPWP

Buying

Cash

> USD 100.000/Month (threshold) or equivalent

≤ USD 100.000/Month (threshold) or equivalent

x

x

Forward

> USD 100.000/Month (threshold) or equivalent

≤ USD 100.000/Month (threshold) or equivalent

x

x

Non Forward

> USD 100.000/Month (threshold) or equivalent

≤ USD 100.000/Month (threshold) or equivalent

x

x

Selling

Forward

> USD 5.000.000/Transaction (threshold) or equivalent

x

≤ USD 5.000.000/Transaction (threshold) or equivalent

x

x

x

Non Forward

> USD 1.000.000/Transaction (threshold) or equivalent

x

≤ USD 1.000.000/Transaction (threshold) or equivalent

x

x

x

Settlement by netting of the initial derivative transaction  ≤ Threshold

Derivative Forward Buying

Derivative Selling (Forward or Non Forward)

x

Settlement by netting of the initial derivative transaction > Threshold

Derivative Forward Selling

x

x

x

Derivative Selling (Forward or Non Forward)

x

x

x

 

Note: Source of PBI No 24/7/PBI/2022 and PADG 24/10/PADG/2022

Classification of Citizens/Non-Citizens in Transaction in the Foreogn Exchange Market as follows:

  • Citizens
    Citizens are people, legal entities, or other entities, who are domicilied or plan to be domiciled in Indonesia for at least 1 (one) year, including representatives and diplomatic staff of other countries in Indonesia.

  • Non-Citizens
    Non-Citizens are people, legal entities, who are not domicilied in Indonesia or domicilied in Indonesia for less that 1 (one) year, including representatives and diplomatic staff of other countries in Indonesia. 

Notes:

Underlying transactions must be sent to the Bank no later than 14 (fourteen) days after the transaction date, unless the maturity date is earlier than 14 (fourteen) working days, the documents must be sent on the transaction settlement date.