Indonesian President Prabowo Subianto on Monday said he has signed a regulation that will require exporters of resources other than oil and gas to keep all proceeds onshore for at least a year, effective from March 1.

Indonesia is pushing ahead with a plan to force natural resource exporters to keep more foreign exchange earnings onshore in Southeast Asia’s largest economy, an effort aimed at bolstering central bank reserves by $80 billion and reversing a slide in the country’s beleaguered currency.

JAKARTA (Reuters) -Indonesian President Prabowo Subianto on Monday signed a regulation requiring exporters of resources other than oil and gas to hold all proceeds locally for at least a year, which he said would add $80 billion to the country's forex reserves.