Jakarta. Foreign investor holdings in Bank Indonesia Rupiah Securities, known as SRBI, surged to Rp 221.59 trillion ($12.5 billion) as of May 18, reflecting strong global demand for Indonesian financial assets despite ongoing market volatility and pressure on the rupiah.

The figure was nearly double the Rp 114.1 trillion recorded at the end of 2025.

Overall foreign and domestic investment in SRBI instruments reached Rp 921.9 trillion ($52 billion) as of May 18, up from Rp 730.9 trillion at the end of last year.

Bank Indonesia Governor Perry Warjiyo said the central bank has continued strengthening the interest-rate structure of its monetary instruments, including through higher SRBI yields, to stabilize the rupiah and attract foreign portfolio investment.

“The increase in SRBI interest rates is intended to attract foreign portfolio inflows,” Perry said during a press conference following the central bank’s board meeting on Wednesday.

According to Perry, strengthening SRBI instruments forms part of Bank Indonesia’s broader strategy to support the rupiah amid global pressures stemming from conflict in the Middle East, a stronger U.S. dollar, and capital outflows from emerging markets.

The rupiah closed stronger on Wednesday afternoon, rising 52 points, or 0.29%, to Rp 17,654 per U.S. dollar from Rp 17,706 previously.

Looking ahead, Perry said Bank Indonesia believes the rupiah will remain stable and gradually strengthen, supported by the central bank’s policy commitment, attractive domestic yields, and Indonesia’s relatively solid economic growth outlook.

However, the rupiah still remains around 2% weaker on a point-to-point basis compared with the end of April 2026.

That pressure has prompted Bank Indonesia to optimize multiple stabilization tools, including strengthening SRBI instruments to attract more foreign capital into domestic markets.

In addition to expanding SRBI operations, Bank Indonesia has continued purchasing government bonds, known locally as Surat Berharga Negara (SBN), in the secondary market as part of broader monetary and fiscal policy coordination.

As of May 19, the central bank’s SBN purchases had reached Rp 140.57 trillion, including Rp 73.28 trillion acquired through secondary-market operations.

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