Reflecting
current economic conditions, Bank Indonesia regularly publishes rupiah
stability indicators, especially since the COVID-19 outbreak. The main
indicators in question are the exchange rate and inflation, as follows:
A. Exchange
Rate Developments 20th – 23rd April 2020
End of Tuesday, 23rd
April 2020
1. The
Rupiah appreciated to close at Rp15,350.
2. 10-year
benchmark Government Securities (SBN) yield decreased to 7.81%.
3. DXY strengthened to a level of 100.43.
4. 10-year
UST (US Treasury Note) yield
decreased to a level of 0.602%.
Friday
Morning, 24th April 2020
1. The
Rupiah opened at a level of Rp15.400.
2. 10-year
benchmark Government Securities (SBN) yield stable at 7.80%.
Foreign
Capital Inflow (4th week of April 2020)
1. 5-year
Indonesia Credit Default Swaps (CDS)
Premium increased to 210.59 bps as of 23rd April 2020 from 191.23
bps on 17th April 2020, triggered by concerns of global economic
recession.
2. Based
on transaction data from 20th – 23rd April 2020,
non-residents booked a net sell in the domestic financial market totaling
Rp0,18 trillion, with a net sell recorded in the stock market of Rp1.58 trillion
and a net buy in the SBN Market of Rp1.40 trillion.
3. Based
on settlement data from 20th – 23rd April 2020, non-residents booked
a net sell in the domestic financial market totaling Rp2.95 trillion and
during 2020 (ytd) recorded a net sell in total Rp159.38 trillion.
B. Inflation
in 2020 Controlled and within the Target
1. Based
on the Price Monitoring Survey in the 4th week of April 2020,
inflation in April estimated at 0.18% (mtm), increasing on the previous period
and bringing the rate this calendar year to 0.94% (ytd) and 2.78% (yoy)
annually.
2. The
main contributors in inflation in the reporting period were shallots (0.12%),
gold jewelries (0.9%), oranges (0.5%), granulated sugar (0.02%), mineral water
(0.02%), soybean cake, raw tofu, rice, and filter clove cigarettes, which each
contributed 0.01% (mtm). In contrast, several major commodities experience
price corrections (deflation), namely red chilies (-0.11%), purebred chicken
meat (-0.08%), purebred chicken eggs, garlic, and air transport, which each contributed
-0.01% (mtm).
3. Inflation
in the 4th week of April 2020 is lower than the previous week,
primarily due to the price correction of red chilies, purebred chicken meat,
garlic, and oranges. In contrast, several major commodities recorded higher
prices than previous week, namely shallots and mineral water.
Bank
Indonesia will continue to strengthen coordination with the Government and the
relevant authority to carefully monitor the dynamics of COVID-19 outbreaks
and the economic impact on Indonesia over time, including the coordinated
policy measures required to maintain macroeconomic and financial system
stability, as well as solid and resilient economic growth.
Head of Communication
Department
Onny Widjanarko
Executive Director
Information on Bank Indonesia
DXY or USD Index means
an index of the value of US dollar relative to a basket of foreign currencies
of 6 other main currencies (EUR, JPY, GBP, CAD, SEK, CHF).
UST or US Treasury Note
means debt security issued by the US government with maturity of 1-10 years.
CDS or Credit Default
Swaps is an indicator frequently used to measure risks of a country.
