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Indonesia and Singapore launch local currency trade mechanism
Indonesia and Singapore have officially operationalized a Local Currency Transaction (LCT) framework to facilitate bilateral trade using the Rupiah and Singapore Dollar. This initiative, led by Bank Indonesia and the Monetary Authority of Singapore, aims to reduce exchange rate risks, lower transaction costs, and decrease reliance on the US Dollar. Under this mechanism, designated banks in both nations will provide direct exchange rate quotations. Singapore has appointed DBS, OCBC, and UOB to the framework, while Indonesia has appointed nine banks, including Bank Central Asia, Bank Mandiri, and Bank Negara Indonesia, to act as Appointed Cross Currency Dealers.
In separate financial news, Bank Rakyat Indonesia (BRI) reported strong performance for the second quarter of 2026. The bank's net profit reached Rp31.2 trillion, representing a 17.5 percent year-on-year increase. BRI continues to focus on the MSME (UMKM) sector, which accounts for 75.1 percent of its total credit and financing portfolio, totaling Rp1,235.4 trillion. The bank's total credit and financing reached Rp1,646 trillion, reflecting a 16.2 percent year-on-year growth.
Entities
Anindya N. Bakrie · BRI Group · Bank Indonesia · Bank Rakyat Indonesia · Ety Yuniarti · Hery Gunardi · Himbara · Indonesia · Jakarta · Monetary Authority of Singapore · PT Adaro Andalan Indonesia Tbk · PT Bakrie & Brothers Tbk
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] BNBR's operating profit rose 283.21 percent to Rp301.53 billion in the first half of 2026.
- [○ 1 SOURCE] AADI's net profit for the period reached $524.43 million in the first half of 2026.
- [● 6 SOURCES] PT Bank Rakyat Indonesia (Persero) Tbk (BRI) reported a consolidated net profit of Rp31.2 trillion for the first half of 2026. economy.okezone.com · satumediagarut.com · halosemarang.id · news.harianjogja.com · www.jatengnews.id
- [● 7 SOURCES] BRI's net profit grew 17.5 percent year-on-year compared to the previous year. economy.okezone.com · satumediagarut.com · halosemarang.id · news.harianjogja.com · www.jatengnews.id · +1 more
- [○ 1 SOURCE] PT Bakrie & Brothers Tbk (BNBR) recorded net revenue of Rp2.59 trillion in the first half of 2026.
- [○ 1 SOURCE] PT Adaro Andalan Indonesia Tbk (AADI) achieved revenue of $2.55 billion in the first half of 2026.
- [● 2 SOURCES] Indonesia's exports grew 6.05 percent year-on-year in July 2026, reaching US$26.22 billion. www.businesstimes.com.sg
- [● 6 SOURCES] BRI's UMKM credit portfolio reached Rp1,235.4 trillion. www.radarbandung.id · halosemarang.id · news.harianjogja.com · www.jatengnews.id · www.suarainvestor.com
- [● 2 SOURCES] BRI's Non-Performing Loan (NPL) ratio decreased to 2.9 percent. economy.okezone.com · mediaasuransinews.co.id
- [● 2 SOURCES] Indonesia and Singapore launched a Local Currency Transaction (LCT) mechanism to facilitate bilateral trade using Rupiah and Singapore Dollars. baotintuc.vn
- [● 2 SOURCES] BRI's total credit and financing reached Rp1,646 trillion. news.harianjogja.com
- [○ 1 SOURCE] Indonesia recorded a trade surplus of US$120 million in July 2026.