DIGIVESTASI - Bank Indonesia reported foreign capital inflows into the domestic financial market amounting to IDR 11.52 trillion this week, from January 20 to 23, 2025. Government Securities (SBN) were the most favored instruments among foreign investors. Head of Bank Indonesia's Communications Department, Ramdan Denny Prakoso, detailed that despite an outflow in the stock market, purchases in the SBN and Bank Indonesia Rupiah Securities (SRBI) markets were significantly higher.

"Based on transaction data from January 20–23, 2025, non-residents recorded a net purchase of IDR 11.52 trillion, comprising a net sell of IDR 0.35 trillion in the stock market, a net buy of IDR 9.60 trillion in the SBN market, and a net buy of IDR 2.27 trillion in SRBI," Ramdan said in an official statement on Saturday (January 25, 2025).

However, overall, from the beginning of the year through January 23, 2025, foreign capital flows in Indonesia’s financial markets have still recorded a deficit. Specifically, there was a net sell of IDR 2.03 trillion in the stock market, a net sell of IDR 1.91 trillion in the SBN market, and a net buy of IDR 2.95 trillion in SRBI.

These developments have impacted Indonesia’s five-year credit default swap (CDS) premium, which dropped to 73.01 basis points (bps) as of January 23, 2025, compared to the previous level of 76.14 bps on January 17, 2024. Meanwhile, the yield on 10-year SBNs edged down to 7.03% on Friday (January 24, 2025), from 7.06% the previous day.

In the foreign exchange market, the rupiah also strengthened. The Garuda currency opened higher at IDR 16,235 per US dollar on Friday (January 24, 2025), after closing at IDR 16,275 per US dollar on Thursday (January 23, 2025). “Bank Indonesia continues to strengthen coordination with the government and related authorities, optimizing policy mix strategies to support Indonesia’s external economic resilience,” Ramdan added.

Compared to last week, the performance of Indonesia’s financial market has shown significant improvement. During the period of January 13–16, 2025, foreign capital outflows from the financial markets reached IDR 9.57 trillion. At that time, foreign investors recorded a net purchase of IDR 0.01 trillion in the stock market but reported net sales of IDR 4.17 trillion in the SBN market and IDR 5.41 trillion in SRBI. On the other hand, the rupiah faced pressure, nearing IDR 16,400 per US dollar.

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