Performance of Rupiah Stability Indicators (19th June 2020) - Bank Sentral Republik Indonesia
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July 11, 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 15-18th June 2020
End of Thursday, 18th June 2020
1.   The rupiah closed stronger at a level of Rp14,010 per US dollar.
2.   Benchmark 10-year SBN yield decreased to 7.13%.
3.   DXY[1] strengthened to a level of 97.42.
4.   US10-year Treasury (UST) Note[2] yield increased to a level of 0.708%.
Friday Morning, 19th June 2020
1.   The rupiah opened at a level of Rp14,020 per US dollar.
2.   Benchmark 10-year SBN yield increased to 7.15%.
Foreign Capital Flows (Third Week of June 2020)
1.   Indonesia 5-year credit default swap (CDS)[3] premium decreased to 124.20bps as of 18th June 2020 from 129.71bps on 12th June 2020.
2.   Based on transaction data from 15-18th June 2020, non-resident investors booked a net sell totalling Rp1.09 trillion in the domestic financial markets, with a net sell recorded in the stock market of Rp2.15 trillion and a net buy in the SBN market of Rp1.06 trillion.
3.   Based on settlement data in 2020 (ytd), non-resident investors have booked a net sell totalling Rp142.16 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 June 2020, lower inflation is predicted in June 2020 at 0.02% (mtm). Therefore, inflation estimate in June 2020 for the calendar year stands at 0.93% (ytd) or 1.79% (yoy).
2.   The main inflation contributors in the reporting period were purebred chicken meat at 0.13% (mtm), purebred chicken eggs at 0.04% (mtm) as well as shallots and tomatoes at 0.01% (mtm) each.  Meanwhile, several commodities experienced deflationary pressures, including garlic at -0.04% (mtm), red chili at -0.03% (mtm), airfares at -0.03% (mtm), bird’s eye chili, oranges and gold jewellery at -0.02% (mtm), as well as cooking oil and granulated sugar at -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.4
[3] CDS or credit default swaps are an indicator often used as a proxy of country risk.
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