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Indonesia

Market Watch
Close of
November 19, 2019
Change From
Govt. Bond Yields Latest Yield Previous Day Previous Week YTD
2 Year 5.968 ▲ 4.7 ▲ 18.5 132.0
5 Year 6.480     0.0 ▲ 0.4 142.7
10 Year 7.032 ▲ 1.0 0.6 99.3

* Government bond yield changes are expressed in basis points.

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Currencies Latest Rate Previous Day Previous Week YTD
IDR per USD 14,091.000 0.1 0.3 ▲ 2.1
IDR per JPY 129.823 0.2 0.7 ▲ 1.0

* Exchange rate changes are expressed as a percentage change.

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Interest Rates Latest Rate Previous Day Previous Week YTD
1D INDONIA 4.839 0.2 0.7 99.0
3M JIBOR 5.500 0.6     0.0 220.3

* Interest rate changes are expressed in basis point change.

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Policy Rates
Change From
Policy Rates Latest Rate
(24-Oct-2019)
Previous Rate
(19-Sep-2019)
YTD
Rate
Bank Indonesia 7-day
Reverse Repo Rate
5.000 25.0 100.0

* Policy rate changes are expressed in basis point change.

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Sovereign Ratings
Agency Rating Outlook Date
Regional Rating Institutions
R&I BBB stable 2018-03-07
RAM BBB2 stable 2019-10-31
Non-Regional Rating Institutions
Fitch BBB stable 2019-03-14
S&P BBB stable 2019-05-31

More details

  • Size of LCY Bond Market
  • Size of LCY Bond Market in % of GDP
  • Monthly Bonds Outstanding in USD
  • FCY Bonds Outstanding
  • Breakdown of LCY 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
  • 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
2019 Nov Sep Jun Mar
2018 Nov 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

Local currency (LCY) government bond yields in Indonesia continued to decline between 31 August and 15 October.† The overall decline in Indonesiaís LCY government bond yields was largely driven by the accommodative monetary policy stance of Bank Indonesia. The central bank lowered the policy rate four times, by 25 bps each, during the monthly Board of Governors meetings from July to October. The decisions to lower rates were taken to bolster economic growth and boost lending activities as the global economic outlook weakened.† The decline in bond yields was also influenced by the accommodative monetary stance of central banks in advanced economies. As a low-interest-rate environment prevailed, foreign funds shifted toward higher-yielding emerging market assets. Relative to its emerging East Asian peers, bond yields in Indonesia remain high, making it a favored destination of foreign funds.†

Size and Composition

At the end of September, the LCY bond market in Indonesia expanded to a size of IDR3,229.9 trillion (USD227.5 billion), as growth rebounded strongly to 5.2% quarter-on-quarter in the third quarter of 2019 after contracting 0.5% quarter-on-quarter in the second quarter. The robust growth during the quarter largely stemmed from growth in central government bonds and, to a lesser extent, central bank bonds and corporate bonds. Total government bonds outstanding climbed to IDR2,792.3 trillion and corporate bonds reached IDR437.5 trillion at the end of September.†

Policy, Institutional and Regulatory Developments

In August, the Government of Indonesia signed a new regulation that will lower the tax on interest income from bond investments to 5.0% from 15.0% for infrastructure investment funds, real estate investment funds, and asset-backed securities. The reduction in taxes will take effect in 2020 and be adjusted to 10.0% by 2021, making the applicable tax rates for these financial products at par with those of mutual funds.

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