- Indonesia’s FX reserves rose by USD 0.4 Bn in January to USD 156.1 Bn, supported by tax receipts and USD 3.45 Bn in global bond issuance.
- SRBI saw a net foreign inflow in January. With smaller maturity in the coming months, BI have more flexibility – coupled with the liquidity freed up by BI rate cut.
- Rupiah remains under some pressure, as improving conditions for bonds is offset by outflows from equities.
- BI’s next move remains to be decided on a per-month basis, in the meantime BI has ample room to both support growth and stabilize Rupiah.
