Indonesia must 'reduce excessive dependence on dollar' — Permata Bank chief economist

As a key BRICS nation seeking to reduce its reliance on the dollar, Indonesia has been embracing cross-border trade in local currencies.

The country's central bank is expanding this framework to safeguard the rupiah against rising global uncertainty.

We spoke with Josua Pardede, chief economist at Jakarta-based Permata Bank.

He said Indonesia's shift to local currencies is a pragmatic strategy to shield the national economy from US dollar volatility.