October 22, 2020
|Govt. Bond Yields||Latest Yield||Previous Day||Previous Week||YTD|
|2 Year||4.479||0.0||0.0||▼ 129.1|
|5 Year||5.484||▼ 1.9||▼ 16.6||▼ 95.2|
|10 Year||6.613||▲ 0.5||▼ 13.8||▼ 45.0|
* Government bond yield changes are expressed in basis points.
|Currencies||Latest Rate||Previous Day||Previous Week||YTD|
|IDR per USD||14,660.000||▼ 0.2||▲ 0.2||▼ 5.7|
|IDR per JPY||139.805||▲ 0.1||▼ 0.4||▼ 9.5|
* Exchange rate changes are expressed as a percentage change.
|Interest Rates||Latest Rate||Previous Day||Previous Week||YTD|
|1D INDONIA||3.288||▲ 0.1||▲ 0.1||▼ 159.6|
|3M JIBOR||4.300||0.0||0.0||▼ 120.6|
* Interest rate changes are expressed in basis point change.
|Policy Rates||Latest Rate
|Bank Indonesia 7-day
Reverse Repo Rate
* Policy rate changes are expressed in basis point change.
|Regional Rating Institutions|
|Non-Regional Rating Institutions|
ASEAN+3 Bond Market Guide is a comprehensive explanation of the region's bond markets. It provides
information such as the history, legal and regulatory framework, specific characteristics of the market,
trading and transaction (including settlement systems), and other relevant information. The Bond
Market Guide 2017 for Indonesia is an outcome of the support and contributions of ASEAN+3 Bond
Market Forum members and experts, particularly from Indonesia.
|* Download previous issues PDF|
Between 15 June and 15 August, local currency (LCY) government bond yields in Indonesia fell for all tenors except the 6-year maturity, which was unchanged. Bond yields declined more at the shorter-end of the curve than at the longer-end. The overall decline in yields was largely influenced by Bank Indonesia's accommodative monetary stance and the bleak economic outlook amid the coronavirus disease (COVID-19) outbreak. Also contributing to the overall decline in yields were concerns over increased debt supply and debt monetization.
Indonesia's LCY bond market surged to a size of IDR3,585.2 trillion (USD251.3 billion) at the end of June, with growth accelerating to 7.8% quarter-on-quarter (q-o-q) in the second quarter of 2020 from only 0.4% q-o-q in the earlier quarter. On a year-on-year (y-o-y) basis, growth climbed to 16.8% in the second quarter of 2020 from 7.8% in the first quarter. The total stock of LCY government bonds at the end of June stood at IDR3,155.5 trillion on growth of 9.5% q-o-q and 19.0% y-o-y. Much of the growth stemmed from expansions in the stock of central government bonds amid higher issuance volume to fund a wider budget deficit. At the end of June, the total corporate bond stock reached IDR429.7 trillion on a decline of 3.0% q-o-q but an increase of 3.0% y-o-y. The amount of corporate bonds outstanding declined on weak issuance since the start of this year.
In June, a second revision to the 2020 state budget was signed into law, which called for increased spending and a wider budget deficit to support the economy amid the COVID-19 outbreak. The second revision to the 2020 state budget estimates a deficit amounting to IDR1.03 quadrillion, which is equivalent to 6.34% of gross domestic product, up from an earlier revision announced in April of a deficit equivalent to 5.07% of gross domestic product. The government expects state spending to hit IDR2.73 quadrillion in 2020, while state revenue is projected to be IDR1.69 quadrillion.
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