Indonesia has launched a national “de-dollarisation” task force to facilitate cross-border local currency transactions with regional partners as the push to reduce US dollar dependence in south-east Asia gathers pace. More than 80% of exports in the region are invoiced in dollars, according to the Asian Development Bank.
Experts say the national task force will pursue policy adjustments to financial market and trade rules as Jakarta aims to incentivise banks and other institutions to deepen their engagement with regional currencies.
