BI Strengthens Monetary Operations To Maintain Foreign Portfolio Exchange Rate And Attractiveness
JAKARTA Bank Indonesia (BI) continues to strengthen its Rupiah exchange rate stabilization strategy through Non-Deliverable Forward (NDF) transaction intervention in overseas markets, as well as spot transactions, Domestic Non-Deliverable Forward (DNDF) in the domestic market, and the purchase of SBN in the secondary market to maintain financial market stability.
BI Governor Perry Warjiyo said that his party also continues to strengthen the pro-market monetary operations strategy to support the transmission of interest rate reductions and maintain the attractiveness of foreign portfolios.
According to him, this step includes the management of the interest rate structure of monetary instruments and foreign exchange, optimizing the pro-market monetary instrument (SRBI, SVBI, SUVBI), as well as SRBI auctions and purchasing SBN in the secondary market to maintain liquidity.
"Strengthening the term-repo transaction strategy and foreign exchange, as well as strengthening the role of major dealers in encouraging SRBI transactions and repurchase agreement (repo) transactions between market actors," he said at the KSSK Periodic Meeting Results Press Conference in 2025, Monday, July 28.
He said the total position of the SRBI instrument as of July 23, 2025 was recorded at IDR 754.10 trillion, a decrease from IDR 923.53 trillion in early January 2025, thus supporting the expansion of monetary policy liquidity.
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Hingga 25 Juli 2025, kata Perry, BI telah membeli SBN sebesar Rp147,59 triliun melalui pasar sekunder sebesar Rp104,71 triliun dan pasar primer dalam bentuk Surat Perbendaharaan Negara (SPN) termasuk syariah, sebesar Rp42,88 triliun.
Dia menyampaikan, pembelian SBN oleh BI ini mencerminkan eratnya sinergi kebijakan moneter dengan kebijakan fiskal pemerintah.
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As of July 25, 2025, Perry said, BI had purchased SBN of IDR 147.59 trillion through the secondary market of IDR 104.71 trillion and the primary market in the form of State Treasury Letters (SPN) including sharia, amounting to IDR 42.88 trillion.
He said that the purchase of SBN by BI reflected the close synergy of monetary policy with the government's fiscal policy.