Jakarta. Bank Indonesia said its strategy of raising yields on Bank Indonesia Rupiah Securities, or SRBI, has begun attracting foreign capital back into domestic financial markets amid mounting global economic pressures.

Speaking during a parliamentary hearing on Monday with Commission XI, which oversees finance and monetary affairs, Bank Indonesia Governor Perry Warjiyo said the central bank had increased SRBI yields to counter capital outflows triggered by soaring global oil prices and escalating conflict in the Middle East.

According to Perry, 12-month SRBI yields currently stand at 6.45%, while nine-month and six-month tenors offer yields of 6.31% and 6.2%, respectively.

“The conflict has intensified, causing global oil prices to surge sharply. Therefore, we needed to raise SRBI interest rates to encourage foreign capital inflows,” Perry said.

Bank Indonesia data showed that between January and March 2026, foreign investors pulled Rp 26.06 trillion from Indonesia’s stock market and Rp 25.1 trillion from the government bond market (SBN).

That meant the domestic financial market experienced significant capital outflows during the first quarter of the year.

Meanwhile, SRBI instruments -- which had still recorded net foreign inflows in January and February -- also began experiencing outflows in March as global pressures intensified.

“SRBI still recorded net inflows in January and February, but in March there were also outflows because global pressures became much stronger and the impact of rising oil prices was very significant,” Perry said.

However, after the central bank raised SRBI yields, foreign capital began returning to Indonesian markets.

In April 2026 alone, inflows into SRBI instruments reached Rp 48.2 trillion. Between April and May 8, additional inflows totaled Rp 27.05 trillion.

“Thank God, from the beginning of the year until May 8, 2026, total inflows have reached Rp 105.16 trillion. This has helped offset the outflows,” Perry said.

Overall, combined transactions in the stock market, SBN market, and SRBI instruments still recorded net inflows of Rp 67.33 trillion as of May 8.

Despite the improvement, Bank Indonesia noted that Indonesia’s equity market continued to experience foreign outflows totaling Rp 27.64 trillion, while the government bond market recorded outflows of Rp 10.19 trillion.

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