Money Supply Reaches Rp 10,415 Trillion in May 2026

Bank Indonesia (BI) recorded broad money supply, or M2, at Rp 10,415 trillion in May 2026. The figure grew 10.8 percent year-on-year, higher than the 9.2 percent year-on-year growth recorded in April 2026.

“The development of M2 in May 2026 was mainly influenced by credit disbursement and net foreign assets,” said Ramdan Denny Prakoso, Executive Director of BI’s Communication Department, in an official statement on Tuesday, 23 June 2026. Credit disbursement in May was recorded at Rp 8,759 trillion, growing 10.8 percent year-on-year. Meanwhile, net foreign assets grew 5.2 percent year-on-year to Rp 2,056 trillion.

Based on components, M2 growth was supported by narrow money (M1) with a share of 57.8 percent. M1 grew 15.3 percent year-on-year to reach Rp 6,025 trillion in May 2026. The development of M1 was influenced by rupiah demand deposit growth of 23.9 percent year-on-year, an increase compared to April 2026’s growth of 21.3 percent year-on-year.

M2 growth was also supported by quasi money, which accounted for 41.5 percent of M2. In May 2026, quasi money grew 6.0 percent year-on-year to Rp 4,319 trillion. This development was driven by growth in foreign currency demand deposits of 10.5 percent year-on-year and other savings of 22.2 percent year-on-year.

Meanwhile, adjusted primary money (M0) grew 14.2 percent year-on-year in May to Rp 2,214 trillion. This position was slightly lower than April’s growth of 14.3 percent year-on-year. “Based on the influencing factors, the growth of adjusted M0 has taken into account the impact of liquidity incentive provision (adjusted monetary control),” BI wrote in its report.