JAKARTA: The total amount of Indonesian central bank bills outstanding climbed by the most in almost two years last month as the monetary authority sought to attract capital inflows to support the weakening rupiah.
Bank Indonesia’s (BI) outstanding rupiah bills, known as SRBI, increased by 126.7 trillion rupiah (US$7.3bil) in April, the most since July 2024, to a total of 957.91 trillion rupiah, according to central bank data released on Saturday.
BI has been ramping up bill sales to support the rupiah, which has weakened more than 4% this year and touched a succession of record lows.
Central bank governor Perry Warjiyo has vowed to keep issuing SRBIs with higher yields and intensify both offshore and onshore intervention to bolster the currency.
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