Performance of Rupiah Stability Indicators (17th July 2020) - Bank Sentral Republik Indonesia
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August 14, 2020
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 13-16th July 2020
End of Thursday, 16th July 2020
1.     The rupiah closed at a level of Rp14,560 per US dollar.
2.     Benchmark 10-year SBN yield decreased to 7.01%.
3.     DXY[1] weakened to a level of 96.35.
4.     US Treasury (UST) Note[2] yield decreased to a level of 0.617%.
Friday Morning, 17th July 2020
1.     The rupiah opened at a level of Rp14,560 per US dollar.
2.     Benchmark 10-year SBN yield was stable at 7.03%.
Foreign Capital Flows (Third Week of July 2020)
1.     Indonesia 5-year credit default swap (CDS)[3] premium increased to 125.9bps as of 16th July 2020 from 1223.05bps on 10th July 2020.
2.     Based on transaction data from 13-16th July 2020, non-resident investors booked a net buy totalling Rp1.82 trillion in the domestic financial markets, with a net buy recorded in the SBN market of Rp2.56 trillion and a net sell in the stock market of Rp0.73 trillion.
3.     Based on settlement data in 2020 (ytd), non-resident investors have booked a net sell totalling Rp145.47 trillion in the domestic financial markets.
 
B.    Inflation Remains Low and Under Control
1.     Based on the latest Price Monitoring Survey as of the third week of July 2020, inflation is predicted in July 2020 at 0.01% (mtm). Therefore, inflation in July 2020 for the calendar year stands at 0.90% (ytd) or 1.76% (yoy).
2.     The main inflation contributors in the reporting period were purebred chicken eggs (0.05% mtm), gold jewellery (0.03% mtm) and filtered clove cigarettes (0.01% mtm). Meanwhile, several commodities experienced deflationary pressures, namely shallots (-0.09% mtm), garlic (-0.03% mtm), granulated sugar (-0.02% mtm), oranges (-0.02% mtm), as well as red chillies, beef, coconuts, cooking oil and airfares (-0.01% mtm).
 
Bank Indonesia will continue to strengthen coordination with the Government and other relevant authorities 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.

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