Jakarta. Bank Indonesia ramped up government bond purchases and raised yields on its instruments to attract foreign inflows and stabilize the rupiah amid global uncertainty.

BI Governor Perry Warjiyo said policy remains focused on safeguarding exchange rate stability while supporting economic growth.

“Bank Indonesia continues to strengthen its monetary policy to further reinforce economic stability and support growth,” Perry said during a virtual press briefing following the central bank’s board meeting on Wednesday.

BI reported that outstanding rupiah-denominated securities (SRBI) reached Rp 885.41 trillion as of April 21, 2026, with non-resident investors holding Rp 165.98 trillion, or about 18.75% of the total. The central bank has enhanced the instrument’s appeal by adjusting its interest rate structure.

“Following these adjustments, foreign portfolio inflows into SRBI and government bonds (SBN) have increased, strengthening exchange rate stability and external resilience,” Perry said.

BI has also stepped up purchases of government bonds as part of its policy coordination with fiscal authorities while maintaining liquidity in money and banking markets. As of April 21, 2026, total SBN purchases reached Rp 111.54 trillion, including Rp 56.53 trillion from the secondary market.

Previously, SRBI outstanding had declined from Rp 916.97 trillion at the start of 2025 to Rp 831.55 trillion as of March 13, 2026. Meanwhile, SBN holdings stood at Rp 86.16 trillion as of March 16, including Rp 46.72 trillion from the secondary market.

“In the past month, we raised the instrument’s rates, which successfully attracted foreign portfolio inflows into both SRBI and SBN. This has supported rupiah stability and strengthened external resilience against global shocks,” Perry added.

Senior Deputy Governor Destry Damayanti said the SRBI rate adjustments since February 2026 have begun to show positive results.

In March alone, inflows into SRBI reached Rp 32.5 trillion, followed by an additional Rp 29 trillion in April, bringing year-to-date inflows to Rp 54.3 trillion.

“Government bonds have also seen increased inflows, with Rp 10.11 trillion recorded in April. This rising net foreign inflow will further strengthen our external sector resilience,” Destry said.

Beyond monetary instruments, BI has intensified its presence in the foreign exchange market, intervening both offshore and domestically. The central bank has maintained its benchmark interest rate at 4.75%, supported by strong foreign exchange reserves of $148.2 billion.

Bank Indonesia reiterated it will remain active in both domestic and global markets, including in Europe and the United States, to safeguard rupiah stability.

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