Destry to Use SRBI to Lower Bank Interest Rates, Here's How

Destry Damayanti, candidate for Governor of Bank Indonesia (BI), is taking a different approach to the central bank’s Rupiah Securities (SRBI) policy if elected.

This was conveyed by Destry during a fit and proper test with Commission XI of the House of Representatives (DPR) in Jakarta on Wednesday (26/8/2026).

“Our SRBI policy is that we will focus SRBI on transmitting interest rate policy so that market rates ease,” she said.

SRBI was previously used as an instrument to attract foreign funds into the country, as a measure to stabilise the rupiah exchange rate. SRBI even offered yields above government-issued Government Securities (SBN).

The move drew widespread criticism, both from the DPR and academics. SRBI was considered to have dried up market liquidity because it absorbed banking funds.

This will be corrected by Destry going forward. Since serving as Acting Governor of BI, Destry has already reduced SRBI issuance with the aim of maintaining liquidity in the financial market.

“Our SRBI rate is declining, outstanding has fallen to Rp1,050 trillion, this is being gradually reduced to add liquidity and keep interest rates under control as well as align with our overnight rate,” Destry stressed.