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No. 23/45/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 15-18^th February 2021

End of Thursday, 18^th February 2021

1. The rupiah opened at a (bid) level of Rp14,010 per US dollar.
2. Benchmark 10-year SBN yield increased to a level of 6.49%.
3. DXY^[1] strengthened to a level of 90.59.
4. 10-year US Treasury (UST) Note^[2] yield increased to a level of 1.129%.

Friday Morning, 19^th February 2021

1. The rupiah opened at a (bid) level of Rp14,030 per US dollar.
2. Benchmark 10-year SBN yield increased to 6.52%.

Foreign Capital Flows (Third Week of February 2021)

1. Indonesia 5-year credit default swap (CDS) premium was relatively stable at 66.9bps on 18^th February 2021 compared with 66.8bps on 12^th February 2021.
2. Based on transaction data from 15-18^th February 2021, non-resident investors booked a net sell totalling Rp3.54 trillion in the domestic financial markets, with a net sell in the SBN market of Rp2.40 trillion and a net sell recorded in the stock market of Rp1.14 trillion.
3. Based on settlement data in 2021 (ytd), non-resident investors have booked a net buy totalling Rp36.24 trillion in the domestic financial markets.
   
    

B.      Inflation Remains Low and Under Control

1. Based on the latest Price Monitoring Survey in the third week of February 2021, monthly inflation in February 2021 is predicted at 0.07% (mtm). Therefore, inflation in February 2021 for the calendar year is estimated at 0.33% (ytd) and 1.34% (yoy) annually.
2. The main inflation contributors in the reporting period were red chilies (0.03% mtm), water spinach (0.02% mtm), as well as bird's eye chilies, shallots, beef, reinforcing bar (rebar) and filtered clove cigarettes (0.01% mtm). In contrast, purebred chicken eggs (-0.03% mtm), purebred chicken meat and gold jewellery (-0.02% mtm), as well as tomatoes and bottled water (-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.

Jakarta, 19th February 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.