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.