Performance of Rupiah Stability Indicators (26th 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 22nd-25th June 2020
End of Thursday, 25th June 2020
1.   The rupiah closed at a level of Rp14,000 per US dollar.
2.   Benchmark 10-year SBN yield was stable at 7.15%.
3.   DXY[1] weakened to a level of 97.43.
4.   US 10-year Treasury (UST) Note[2] yield decreased to a level of 0.686%.
Friday Morning, 26th June 2020
1.   The rupiah opened at a level of Rp14,110 per US dollar.
2.   Benchmark 10-year SBN yield increased to 7.18%.
Foreign Capital Flows (Fourth Week of June 2020)
1.   Indonesia 5-year credit default swap (CDS)[3] premium increased to 131.66bps as of 25th June 2020 from 121.57bps on 19th June 2020.
2.   Based on transaction data from 22nd-25th June 2020, non-resident investors booked a net buy totalling Rp3.40 trillion in the domestic financial markets, with a net buy recorded in the SBN market of Rp4.92 trillion and a net sell in the stock market of Rp1.52 trillion.
3.   Based on settlement data in 2020 (ytd), non-resident investors have booked a net sell totalling Rp141.72 trillion in the domestic financial markets.
 
B.   Inflation Remains Low and Under Control
1.   Based on the latest Price Monitoring Survey as of the fourth week of June 2020, lower inflation is predicted in June 2020 at -0.01% (mtm). Therefore, inflation estimate in June 2020 for the calendar year stands at 0.90% (ytd) or 1.76% (yoy).
2.   The main deflation contributors in the reporting period were garlic at -0.04% (mtm), red chilis, oranges  and airfares at -0.03% (mtm), bird’s eye chilis, granulated sugar and gold jewellery at -0.02% (mtm), and cooking oil at -0.01% (mtm).  Meanwhile, several commodities experienced inflationary pressures, namely purebred chicken meat at 0.13% (mtm), purebred chicken eggs at 0.05% (mtm) and tomatoes 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 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.
[3] CDS or credit default swaps are an indicator often used as a proxy of country risk.
 
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