Investors Begin Hunting SRBI as Foreign Capital Inflows Reach Rp 29 Trillion

Jakarta, CNBC Indonesia - Amid the still high outflow of foreign capital from emerging countries to advanced nations, due to elevated risks of conflict between the United States and Israel with Iran, Bank Indonesia’s monetary operations instrument, namely SRBI, is instead being actively sought by investors.

According to Bank Indonesia records, foreign capital inflows into SRBI on a year-to-date basis up to now have reached Rp 29.08 trillion. This has continued to accumulate from the January 2026 position of only Rp 7.84 trillion.

“Annually, the accumulation is still negative, but on a weekly basis, we observe signs of inflows,” said the Head of the Monetary Management and Securities Assets Department of BI at the Central Banking Forum 2026 CNBC Indonesia in Jakarta on Monday (13/4/2026).

The foreign capital inflows into SRBI will be used to maintain the stability of the rupiah exchange rate against the US dollar, as BI’s monetary operations instrument is designed to preserve the domestic foreign exchange supply.

However, BI assures that this instrument will not cause liquidity in the domestic financial market to dry up, as the central bank can manage it by ensuring that the growth of primary money (M1) in circulation remains in double digits above 10%.

“We continue to inject liquidity to keep the economy turning. Purchases of government bonds, both in the primary market, SPN, Sharia SBN, are only allowed to buy, and in the secondary market for longer tenors, we are committed to maintaining sufficient liquidity,” explained Erwin.