Indonesia's OJK reports stable financial sector and surge in foreign‑currency deposits

The Financial Services Authority (OJK) said the stability of Indonesia’s financial services sector was maintained despite ongoing global economic uncertainty. In its April 30 board meeting, OJK highlighted that worldwide geopolitical tensions – including a cease‑fire between Iran and the United States/Israel and a continued blockade of the Strait of Hormuz – keep oil prices volatile. The IMF has lowered its 2026 global growth forecast to 3.1%, warning of higher stagflation risk, while the U.S. Federal Reserve kept rates unchanged.

Domestically, Indonesia’s economy grew 5.61% year‑on‑year, supported by household consumption and government spending. Consumer confidence remains optimistic, retail sales rose 2.4% YoY, though vehicle sales fell. Foreign‑currency reserves stood at USD 148.2 billion with a trade surplus of USD 1.2 billion.

OJK also reported that third‑party funds in foreign currencies increased 10.87% YoY in April 2026, driven by strong growth in foreign‑currency savings (23.21%) and deposits (22.0%). The share of foreign‑currency funds stayed stable at 15‑16% of total deposits. Total third‑party funds rose 11.39% YoY, with 667 million accounts, up 7.22% year‑on‑year. Competitive deposit rates and incentives for exporters were cited as key drivers.