Luminous Prospect, Foreign Borong Debt Letter Of The Republic Of Indonesia IDR 48.5 Trillion In A Month

Illustration (Photo: Doc. Antara)

Minister of Finance (Menkeu) Sri Mulyani revealed that as of January 27, 2023, net buys were recorded by non-resident investors (assing) worth IDR 48.53 trillion.

Not only that, the state treasurer said that bank debt securities were selling well at IDR 121.9 trillion, and non-bank financial investors worth IDR 3.6 trillion.

"The State Securities Market (SBN) will continue to strengthen in early 2023, driven by the buyback of SBN by non-resident investors," he told reporters on Tuesday, January 31.

The Minister of Finance explained that this condition was also supported by the yield of 10-year benchmark series state securities (SBN) which decreased by 20 bps year to date (ytd) to 6.74 percent.

"Although the SBN market conditions have begun to be conducive, global inflationary pressures in some countries that are still high in persistence need to remain vigilant which has the potential to trigger rising global central bank policy rates beyond expectations," he said.

According to the Minister of Finance, the positive books achieved by Indonesia also boosted the stronger rupiah exchange rate so as to support economic stability.

It is stated that the rupiah in early 2023 experienced appreciation, which until January 27, 2023 rose 3.89 percent year to date (ytd) compared to the level at the end of December 2022.

"The strengthening of the rupiah is relatively better than the appreciation of a number of other developing countries, such as Malaysia 3.83 percent, the Philippines 2.30 percent, and India 1.46 percent," he said.

The Minister of Finance added that foreign capital inflows to the domestic financial market are in line with investor positive perceptions of the domestic economic prospects that remain good.

"Our stability is maintained, the yield of domestic financial assets remains attractive, and the uncertainty of global financial markets has eased slightly," he concluded.