​No. 23/64/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 8-12^th March 2021

End of Wednesday, 10^th March 2021

1. The rupiah closed at a (bid) level of Rp14,395 per US dollar.
2. Benchmark 10-year SBN yield increased to a level of 6.73%.

End of Thursday, 11^th March 2021

1. DXY[1] weakened to a level of 91.42.
2. 10-year US Treasury (UST) Note[2] yield decreased to a level of 1.537%.

Friday Morning, 12^th March 2021

1. The rupiah opened at a (bid) level of Rp14,330 per US dollar.
2. Benchmark 10-year SBN yield decreased to 6.69%.

Foreign Capital Flows (Second Week of March 2021)

1. Indonesia 5-year credit default swap (CDS) premium decreased to 75.52bps on 11^th March 2021 from 77.34bps on 5^th March 2021.
2. Based on transaction data from 8-10^th March 2021, non-resident investors booked a net sell totalling Rp7.83 trillion in the domestic financial markets, with a net sell in the SBN market of Rp6.87 trillion and a net sell recorded in the stock market of Rp0.96 trillion.
3. Based on settlement data in 2021 (ytd), non-resident investors have booked a net sell totalling Rp5.89 trillion in the domestic financial markets.
   
    

B.    Inflation Remains Low and Under Control

1. Based on the latest Price Monitoring Survey in the second week of March 2021, monthly inflation in March 2021 is predicted at 0.09% (mtm). Therefore, inflation in March 2021 for the calendar year is estimated at 0.45% (ytd) and 1.37% (yoy) annually.
2. The main inflation contributors in the reporting period were bird's eye chilies (0.04% mtm), shallots (0.03% mtm), as well as carp, tomatoes and purebred chicken eggs (0.01% mtm).  In contrast, red chilies and gold jewellery (-0.03% 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, 12^th March 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.