JAKARTA - Bank Indonesia (BI) recorded foreign capital flows to the Bank Indonesia Securities (SRBI) auction until May 21, 2024, amounting to IDR 508.41 trillion.
Governor of Bank Indonesia (BI) Perry Warjiyo said that the results of the assessment showed that the issuance of SRBI increased the transmission of monetary policy to the money market, the state securities market (SBN), and the foreign exchange market, as well as had a positive effect on the use of bank portfolio assets in optimizing credit financing.
"Amid the uncertainty of a high global financial market, the issuance of SRBI also supports foreign capital inflows into the country," Perry said in his statement, quoted Friday, May 24.
Seeing this result, Perry said that BI will continue to optimize various pro-market instruments that have been issued since 2023, namely SRBI, SVBI, and SUVBI.
In addition, this is also to strengthen efforts to deepen the money market and support foreign capital inflows into the country so that it can support exchange rate stability.
Meanwhile, non-resident ownership increased from IDR 71.55 trillion or 18.18 percent of the total outstanding on April 23, 2024, to IDR 142.90 trillion or 28.11 percent of the total outstanding on May 21, 2024.
As for other monetary instruments, the government also recorded capital flows from the Sekuritas Valas BI (SVBI) and Sukuk Valas BI (SUVBI) respectively recorded at 2.13 billion US dollars and 257 million US dollars.
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In the future, Perry said that BI will continue to optimize various innovations in pro-market instruments, both in terms of volume and attractive returns, and supported by strong domestic economic fundamental conditions, to push back the flow of foreign portfolios into the domestic financial market.
In addition, optimizing the pro-market monetary instrument also continues to strengthen the effectiveness of policy transmission in ensuring inflation remains under control and the Rupiah exchange rate remains stable.
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