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No. 23/289/DKom

Monitoring economic conditions in Indonesia, particularly in terms of the Covid-19 impact, Bank Indonesia regularly publishes Rupiah stability indicators, including exchange rates and inflation, as follows:

A.   Exchange Rate Developments 1^st-5^th November 2021

End of Thursday, 4^th November 2021

1. The Rupiah closed at a (bid) level of Rp14,335 per US dollar.
2. Benchmark 10-year SBN yield increased to a level of 6.21%.
3. DXY^[1] strengthened to a level of 94.35.
4. 10-year US Treasury (UST) Note^[2] yield decreased to a level of 1.526%.

Friday Morning, 5^th November 2021

1. The Rupiah opened at a (bid) level of Rp14,340 per US dollar.
2. Benchmark 10-year SBN yield decreased to a level of 6.18%.

Foreign Capital Flows (First Week of November 2021)

1. Indonesia 5-year credit default swap (CDS) premium decreased to 78.59bps on 3^rd November 2021 compared with 81.27bps on 29^th October 2021.
2. Based on transaction data from 1^st-4^th November 2021, non-resident investors booked a net sell totalling Rp12.66 trillion in the domestic financial markets, comprising a net buy in the SBN market of Rp0.42 trillion and a net sell recorded in the stock market of Rp13.08 trillion.
3. Based on settlement data in 2021 (ytd), non-resident investors have booked a net sell totalling Rp11.28 trillion in the domestic financial markets.

B.    Inflation Remains Low and Under Control

1. Based on the latest Price Monitoring Survey in the first week of November 2021, monthly price developments in November 2021 remain under control and inflation is predicted at 0.16% (mtm). Therefore, inflation in November 2021 for the calendar year is estimated at 1.09% (ytd) and 1.54% (yoy) annually.
2. The main inflation contributors in the reporting period were cooking oil (0.04% mtm), red chillies (0.03% mtm), purebred chicken meat and eggs (0.02% mtm) as well as detergent powder and filtered clove cigarettes (0.01% mtm). In contrast, shallots, tomatoes and bird's eye chillies (-0.01% mtm) experienced deflationary 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, 5^th November 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.