Information about the organisation, transformation and history of Bank Indonesia as the central bank of the Republic of Indonesia.
Information about the main functions and responsibilities of Bank Indonesia to achieve and maintain rupiah stability.
Information about the rupiah as the currency of the Republic of Indonesia managed by Bank Indonesia pursuant to prevailing laws and regulations.
Bank Indonesia’s publications include regulations, reports and papers, as well as the calendar of activities
Statistics include historical indicators for all sectors under the jurisdiction of Bank Indonesia.
Bank Indonesia offers various services, including requests for information, complaints, licensing and so on.
Bank Indonesia maintains public information in accordance with the Public Information Disclosure Act of 2008.
IndONIA is calculated based on the average interest rate for unsecured overnight rupiah lending reported by all banks to Bank Indonesia. Therefore, IndONIA is the transaction interest rate based on market transactions. IndONIA is determined using the volume-weighted average of all transaction data on a particular day, as reported by the banks to Bank Indonesia through the commercial bank daily reporting system between 07:00 WIB and 18:00 WIB (with an online correction window until 19:00 WIB).
Bank Indonesia began publishing IndONIA each business day at 19:30 WIB on its official website from 1st August 2018.
IndONIA is expected to replace the overnight JIBOR as the money market benchmark rate. As of 2nd January 2019, Bank Indonesia no longer publishes the overnight JIBOR, with existing financial contracts using the overnight JIBOR as a reference expected to transition to IndONIA as the latest reference for the overnight tenor.
A brief explanation of IndONIA is as follows:
Provisions concerning IndONIA are contained in Bank Indonesia Regulation (PBI) No. 20/7/PBI/2018, dated 24th July 2018, concerning the Indonesia Overnight Index Average (IndONIA) and Jakarta Interbank offered Rate (JIBOR).
Information about IndONIA
Financial Market Development Department
Telp : (021) 2981-4013, 2981-4897
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JIBOR is a money market benchmark rate. Calculated periodically, JIBOR is available to market participants for use as a reference to determine lending rates as well as set prices and measure the performance financial instruments. JIBOR is the average indicative unsecured lending rate offered by contributor banks to other contributor banks for rupiah lending in Indonesia with a tenor longer than overnight.JIBOR is determined by Bank Indonesia based on the indicative offered rates quoted by Contributor Banks to Bank Indonesia during the submission window from 07:00 WIB to 09:30 WIB (with an online correction window until 09:45 WIB). Furthermore, JIBOR is calculated using a simple average of the quotations submitted by Contributor Banks after excluding 15% of the highest and 15% of the lowest offered rates.Bank Indonesia publishes JIBOR on its official website each business day at 10:00 WIB, consisting of overnight, 1-week, 1-month, 3-month, 6-month and 12-month tenors.
To enhance JIBOR credibility as a money market reference rate, Bank Indonesia has introduced several refinements. As of 2nd January 2019, JIBOR is determined referencing transaction data based on good governance, which is expected to reflect actual market rates in line with international best practices as stipulated in the IOSCO Principles for Financial Benchmarks published by the International Organisation of Securities Commissions (IOSCO).Enhanced money market benchmark rate credibility is expected to reduce the complexity of financial contracts by facilitating standardisation through the use of reference interest rates for debt instruments and/or lending based on floating interest rates, rupiah interest rate derivatives and for the evaluation of financial instruments.
As of 2nd January 2019, Bank Indonesia no longer publishes the overnight JIBOR. Consequently, JIBOR consists of five tenors, namely 1-week, 1-month, 3-month, 6-month and 12-month tenors, published daily on Bank Indonesia's website at 11:00 WIB of each business day. A brief explanation of IndONIA is as follows:
Provisions concerning JIBOR are contained in Bank Indonesia Regulation (PBI) No.20/7/PBI/2018 dated 24 Juli 2018 concerning the Indonesia
Overnight Index Average andJakarta Interbank Offered Rate.
As of 1st March 2021, the following contributor banks quote offered rates and bid rates to determine JIBOR:
Date : 29 June 2022
Fixing at 19.30 WIB
Fixing at 11.00 WIB
Individual Quotation Offer Rate
Individual Quotation Bid Rate