Bank Indonesia has purchased State Securities or SBN from the secondary market of IDR 123.1 trillion since the beginning of the year. This step was taken in coordination with the Ministry of Finance to support the stabilization of the rupiah exchange rate and maintain market liquidity.
BI Governor Perry Warjiyo conveyed this after attending a meeting with the President at the Presidential Palace Complex, Jakarta, Tuesday, May 5.
"We have bought SBN from the secondary market year to date is Rp123.1 trillion," said Perry.
Perry said the purchase of SBN from the secondary market had been coordinated since the beginning of the year. BI has also opened up space for further coordination with the Minister of Finance, including regarding the possibility of a buyback.
"The coordination is very close between fiscal and monetary," he said.
According to Perry, the pressure on the rupiah in the short term is influenced by global and seasonal factors. From the financial market, he said there is still an outflow from SBN and stocks year to date.
To maintain the flow of foreign portfolios, BI and the Ministry of Finance also regulate the role of SRBI instruments. Perry said that inflow from SRBI is needed to be able to offset the outflow from SBN and stocks.
In addition, BI together with the Ministry of Finance maintains banking and money market liquidity. Perry said the latest primary money growth reached 14.1 percent.
BI also increased supervision of banks and corporations that have high dollar purchase activities, in coordination with OJK.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
