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No. 23/245/DKom

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:

A.   Exchange Rate Developments 10-24^th September 2021

End of Thursday, 23^rd September 2021

1. The Rupiah closed at a (bid) level of Rp14,240 per US dollar.
2. Benchmark 10-year SBN yield increased to a level of 6.17%.
3. DXY^[1] weakened to a level of 93.09.
4. 10-year US Treasury (UST) Note^[2] yield increased to a level of 1.430%.

Friday Morning, 24^th September 2021

1. The Rupiah opened at a (bid) level of Rp14,220 per US dollar.
2. Benchmark 10-year SBN yield increased to a level of 6.21%.

Foreign Capital Flows (Fourth Week of September 2021)

1. Indonesia 5-year credit default swap (CDS) premium increased to 76.18bps on 23^rd September 2021 compared with 68.85bps on 17^th September 2021.
2. Based on transaction data from 20^th-23^rd September 2021, non-resident investors booked a net sell totalling Rp5.92 trillion in the domestic financial markets, with a net sell in the SBN market of Rp6.83 trillion and a net buy recorded in the stock market of Rp0.91 trillion.
3. Based on settlement data in 2021 (ytd), non-resident investors have booked a net buy totalling Rp11.18 trillion in the domestic financial markets.
    

B.   Inflation Remains Low and Under Control

1. Based on the latest Price Monitoring Survey in the fourth week of September 2021, monthly price developments in September 2021 remain under control and deflation is predicted at 0.01% (mtm). Therefore, inflation in September 2021 for the calendar year is estimated at 0.83% (ytd) and 1.63% (yoy) annually.
2. The main deflation contributors in the reporting period were purebred chicken eggs (-0.08% mtm), shallots and bird's eye chillies (-0.03% mtm), red chillies (-0.02% mtm) as well as garlic (-0.01% mtm). In contrast, purebred chicken meat and cooking oil (0.03% mtm) as well as mustard greens and filtered clove cigarettes (0.01% mtm) experienced inflationary pressures.
    

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.

Jakarta, 24^th September 2021
Head of Communication Department
Erwin Haryono
Executive Director
Information about 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.