Jakarta (ANTARA) - Trade Minister Budi Santoso said barter trade arrangements are among the government's strategies to reduce demand for U.S. dollars and help ease pressure on the rupiah amid its depreciation against the greenback.
He said the government has begun promoting countertrade cooperation with several countries, including the Philippines.
"One of the objectives is to reduce our spending in U.S. dollars. We have already started doing this through barter arrangements," Budi told reporters after a limited coordination meeting on food commodity price developments in Jakarta on Tuesday.
According to the minister, Indonesia and the Philippines have explored barter transactions involving abaca fiber and textiles, as well as iron ore and steel products. He said the value of the proposed barter cooperation is estimated at around US$350 million, equivalent to approximately Rp6.3 trillion.
Budi explained that the barter scheme is expected to help reduce foreign exchange requirements for imports because transactions are conducted through commodity exchanges rather than cash payments.
"We hope that other products can also be included in the future. This is one way to reduce the need for U.S. dollars because barter arrangements can help achieve that," he said.
In addition to promoting barter trade, the government is continuing to monitor the prices of imported goods amid the weakening rupiah.
Budi said authorities are seeking to anticipate potential increases in import prices to prevent additional burdens on consumers.
"We continue monitoring and taking anticipatory measures. Our hope is that the prices of imported commodities will not increase," he said.
According to the minister, the government has previously introduced import duty exemptions for several commodities, including plastic raw materials and liquefied petroleum gas (LPG), to help maintain domestic price stability.
During the meeting, officials discussed the weakening trend of the rupiah, which depreciated from around Rp16,800 per U.S. dollar in January 2026 to approximately Rp18,000 per dollar in early June, a development that could increase pressure on imported food commodities.
The government believes that strengthening exports and diversifying trade mechanisms are among the key measures needed to maintain the country's foreign exchange stability.
"If our exports increase, foreign exchange earnings will also increase," Budi said.
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Translator: Aria, Azis Kurmala Editor: M Razi Rahman Copyright © ANTARA 2026
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