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Indonesia

Market Watch
Close of
October 12, 2018
Change From
Govt. Bond Yields Latest Yield Previous Day Previous Week YTD
2 Year 7.621 ▲ 0.6 4.8 ▲ 208.2
5 Year 8.499 ▲ 9.6 ▲ 26.3 ▲ 253.5
10 Year 8.762 ▲ 5.5 ▲ 38.4 ▲ 244.3

* Government bond yield changes are expressed in basis points.

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Currencies Latest Rate Previous Day Previous Week YTD
IDR per USD 15,197.000 ▲ 0.2 0.1 12.1
IDR per JPY 135.434 ▲ 0.3 1.4 12.6

* Exchange rate changes are expressed as a percentage change.

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Interest Rates Latest Rate Previous Day Previous Week YTD
1D JIBOR 5.840 ▲ 6.2 ▲ 16.2 ▲ 194.0
3M JIBOR 7.459 ▲ 1.9 ▲ 8.9 ▲ 197.6

* Interest rate changes are expressed in basis point change.

More details

Policy Rates
Change From
Policy Rates Latest Rate
(27-Sep-2018)
Previous Rate
(15-Aug-2018)
YTD
Rate
Bank Indonesia 7-day
Reverse Repo Rate
5.750 ▲ 25.0 ▲ 150.0

* Policy rate changes are expressed in basis point change.

More details

Sovereign Ratings
Agency Rating Outlook Date
Regional Rating Institutions
R&I BBB stable 2018-03-07
RAM BBB2 stable 2018-06-01
Non-Regional Rating Institutions
Fitch BBB stable 2018-09-02
S&P BBB- stable 2018-05-31

More details

  • Size of LCY Bond Market
  • Size of LCY Bond Market in % of GDP
  • Monthly Bonds Outstanding in USD
  • FCY Bonds Outstanding
  • Issuance Volume of LCY Bond Market
  • Breakdown of LCY Government Bond Market Issuance
  • G3 Currency Bond Issuance
  • Government Securities Maturity Profile - LCY
  • Corporate Securities Maturity Profile - LCY
  • Investor Profile - Government Bonds
  • Foreign Holdings in LCY Government Bonds
  • Foreign Bond Flows
  • Trading Volume
  • Bonds Turnover Ratio
  • Interest Rate Spread - 2yrs vs 10yrs - LCY Bond
  • Yield Volatility - 10yr LCY Bonds
  • iBoxx ABF Index Family
  • Bid-Ask Spreads (Survey data)
  • Government Bond Market Structural Issues
  • Corporate Bond Market Structural Issues

ASEAN+3 Bond Market Guide

ASEAN+3 Bond Market Guide 2017: Indonesia


ASEAN+3 Bond Market Guide is a comprehensive explanation of the regionís 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.

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* Download previous issues PDF
2018 Sep Jun Mar
2017 Nov Sep Jun Mar
2016 Nov Sep Jun Mar
2015 Nov Sep Jun Mar
2014 Nov Sep Jun Mar
2013 Nov Sep Jun Mar
2012 Nov Sep Apr
2011 Nov Sep Mar
2010 Nov Oct Jul Mar
2009 Nov Sep

Market Summary



Yield Movements

Between 1 June and 15 August, local currency (LCY) government bond yields in Indonesia increased, resulting in the entire yield curve shifting upward. Global and domestic issues weighed on the domestic bond market, pushing yields higher during the review period. Positive economic conditions in the United States (US) continued to gain traction, signaling that the Federal Reserve is on track to proceed with its monetary policy normalization. Further exacerbating the global outlook were risks related to trade tensions between the US and the Peopleís Republic of China, and concerns that financial woes in Turkey could spark a contagion in other emerging markets, including Indonesia. On the domestic front, the continued weakness of the Indonesian rupiah and the wider current account deficit added pressure on yields.

Size and Composition

The local currency bond market in Indonesia managed to expand in the second quarter of 2018 amid the volatility that prevailed in financial markets. The amount of outstanding bonds climbed to IDR2,611.4 trillion at the end of June, with growth slowing on both a quarter-on-quarter and year-on-year basis. At the end of June, the outstanding amount of LCY government bonds rose to IDR2,208.9 trillion †and the stock of corporate bonds climbed to IDR402.5 trillion.†

Policy, Institutional and Regulatory Developments

On 23 July, Bank Indonesia resumed issuance of 9-month and 12-month Sertifikat Bank Indonesia (SBI). The central bank sold IDR4.2 trillion of 9-month SBI and IDR1.8 trillion of 12-month SBI during the auction. The issuance of conventional SBI is expected to help attract foreign portfolio investment into the Indonesian market and provide more diversity in the instruments being issued by the central bank. Since December 2016, only Sharia-compliant SBI had been issued on a monthly basis.

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