Monitoring economic conditions in Indonesia, particularly in terms of the COVID-19 impact, Bank Indonesia regularly publishes rupiah stability indicators, including the exchange rate and inflation, as follows:
- Exchange Rate Developments 2nd-5th November 2020
End of Thursday, 5th November 2020
- The rupiah closed at a (bid) level of Rp14,370 per US dollar.
- Benchmark 10-year SBN yield decreased to 6.54%.
- DXY1 weakened to a level of 92.53.
- 10-year US Treasury (UST) Note2 yield decreased to a level of 0.763%.
Friday Morning, 6th November 2020
- The rupiah opened at a (bid) level of Rp14,250 per US dollar.
- Benchmark 10-year SBN yield stable at 6.39%.
Foreign Capital Flows (First Week of November 2020)
- Indonesia 5-year credit default swap (CDS)3 premium decreased to 82.64bps as of 5th November 2020 compared with 97.96bps on 30th October 2020.
- Based on transaction data from 2nd-5th October 2020, non-resident investors booked a net buy totalling Rp3.81 trillion in the domestic financial markets, with a net buy in the SBN market of Rp3.87 trillion and a net sell recorded in the stock market of Rp0.06 trillion.
- Based on settlement data in 2020 (ytd), non-resident investors have booked a net sell totalling Rp161.24 trillion in the domestic financial markets.
- Inflation Remains Low and Under Control
- Based on the latest Price Monitoring Survey as of the first week of November 2020, inflation in November 2020 is predicted at 0.18% (mtm). Therefore, inflation in November 2020 for the calendar year is estimated at 1.14% (ytd) or 1.50% (yoy) annually.
- The main inflation contributors in the reporting period were purebred chicken meat (0.08% mtm), red chilies (0.03% mtm), purebred chicken eggs and shallots (0.02% mtm) as well as bird’s eye chili and cooking oil (0.01% mtm). Meanwhile, several commodities experienced deflationary pressures, namely airfares (-0.02% mtm), and gold jewellery (-0.01% mtm).
Bank Indonesia will continue to strengthen coordination with the Government and other relevant authorities in order to carefully monitor COVID-19 transmission dynamics and the economic impact over time, while taking the coordinated policy measures required to maintain macroeconomic and financial system stability as well as support solid and resilient national economic growth.
Head of Communication Department
Onny Widjanarko
Executive Director
Information on Bank Indonesia
Tel. 021-131, email: bicara@bi.go.id
1 DXY or the US Dollar Index is an index of the value of the United States dollar relative to a basket of six foreign currencies, namely EUR, JPY, GBP, CAD, SEK and CHF.
2 United States Treasury Notes are government debt instruments issued by the United States Department of the Treasury with tenors of 1-10 years.
3 CDS or credit default swaps are an indicator often used as a proxy of country risk.
