INDONESIA ECONOMIC WEEK IN REVIEW1 12 – 16 August 2019 WEEKLY ECONOMIC HIGHLIGHTS  The Jakarta Composite Index rose 0.1 percent this week, in line with most markets in the region.  The Rupiah depreciated against the U.S. Dollar by 0.4 percent and against the Japanese Yen by 0.2 percent, but appreciated against the Euro by 0.4 percent over the week.  The government raised IDR 15 trillion from the issuance of Rupiah-denominated bonds on August 13.  Indonesia recorded a USD 63.5 million trade deficit in July.  Indonesia seeks to implement the B30 policy in 2020. IDX composite index IDR/USD exchange rate Level (index) and weekly change (percent) Level (IDR/USD) and weekly change (percent) IDR 5-year government bond yield Indonesia USD EMBI Spread Level (percent) and weekly change (bps) Level (percent) and weekly change (bps) FINANCIAL MARKET INDICATORS Change or total: Date of Latest latest Year to Indicator value value Unit 7 days* 30 days* 90 days date Stock market Jakarta Composite Index 6,287 16 Aug 0.1% -1.8% 7.9% 1.5% Net purchases by foreign investors -0.72 16 Aug IDR, tn -2.9 -10.6 3.8 61.2 Exchange rate: USD/IDR 14,258 16 Aug 0.4% 2.4% -1.5% -2.0% Government bonds Yield: 1 year IDR bond 6.3% 16 Aug bps 2.8 20 -39 -52 Yield: 5-year IDR bond 7.0% 16 Aug bps 3 36 -68 -104 Yield: 10-year IDR bond 7.5% 16 Aug bps 5 33 -72 -60 Foreign investor holdings of IDR 1005 16 Aug IDR, tn -0.7 2.1 50.5 111.6 government bonds Indonesia USD bonds stripped spread 192 16 Aug bps 3 25 -2 -38 Asia USD bonds stripped spread 191 16 Aug bps 4 25 7 -23 Interest rates IndONIA 5.6% 16 Aug bps -25 65 -25 -25 Spread relative to policy rate -10 16 Aug bps 0 15 0 0 International reserves 125.9 31 Jul USD, bn -- 2.1 1.6 5.2 * One week and month prior to the latest observation 1DISCLAIMER This is an internal document and is not for wider circulation. All data and information are from third party sources unless otherwise noted (full list of sources provided at the end of the document). The accuracy of data, statistics or events presented in this document are not independently verified and the document reflects staff interpretation of recent economic developments. INTERNATIONAL FINANCIAL MARKET INDICATORS Value on Change since Change over earlier period 8-Nov-16 Year on Year to 16-Aug-19 US 7 days 30 days 90 days year date Election STOCK MARKET Indonesia Composite Index 6,287 14.9% 8.7% 0.1% -1.8% 7.9% 1.5% Agriculture 1,385 -21.7% -12.6% 0.9% 1.7% 1.7% -11.4% Mining 1,612 15.9% -18.0% -1.0% -1.7% 0.8% -9.3% Finance 1,267 54.3% 21.7% -1.2% -4.5% 8.9% 7.8% Basic industry 838 54.0% 7.2% 0.5% 4.7% 21.4% -1.9% Consumer 2,409 -3.7% 3.4% 2.2% 2.6% 2.7% -6.2% Manufacturing 1,509 4.7% 3.1% 0.8% 0.9% 6.7% -6.8% Infras., utilities & trans 1,207 8.9% 20.9% 0.9% -2.4% 14.1% 13.4% Australia 6,486 21.4% 1.1% -2.7% -3.7% 0.4% 13.5% H.K. 25,734 12.3% -5.0% -0.8% -10.1% -7.9% 0.9% Japan 20,419 18.9% -8.0% -1.3% -5.2% -3.9% 2.0% Malaysia 11,146 -2.3% -9.7% -1.1% -4.6% 0.1% -2.7% Philippines 7,796 6.7% 3.7% -0.7% -5.7% 2.8% 4.4% Singapore 3,126 10.8% -2.7% -1.4% -7.0% -2.5% 2.4% Thailand 1,631 8.1% -2.9% -1.2% -5.6% 1.4% 4.3% U.S. S&P 500 2,889 35.0% 1.7% -1.0% -3.8% 1.0% 16.2% FOREIGN EXCHANGE RATES USD exchange rates: IDR 14,258 8.9% -2.5% 0.4% 2.4% -1.5% -2.0% Euro 0.90 -0.3% 2.7% 1.1% 1.3% 0.9% 3.4% Singapore Dollar 1.39 -0.1% 1.0% 0.5% 2.4% 1.0% 1.5% Thai Baht 30.88 -11.7% -7.3% 0.5% -0.1% -2.6% -4.8% Korean Won 1,211 6.7% 7.1% 0.0% 2.8% 1.3% 8.5% Japanese Yen 106.16 1.7% -4.2% 0.2% -1.9% -3.2% -3.8% IDR cross rates: Euro 15,822 9.6% -4.9% -0.4% 0.9% -2.2% -5.0% 100 Yen 13,419 7.1% 1.8% 0.2% 4.1% 1.9% 2.1% UPCOMING EVENTS AND DATA RELEASES  Bank Indonesia Board of Governors’ Meeting (August 21-22, 2019)  Broad Money (M2) Report, July data (August 30, 2019) DATA SOURCES Data are taken from CEIC, with the following exceptions: the latest Jakarta Stock Exchange and Indonesian government IDR bond yield data are taken from the Indonesian Stock Exchange (www.idx.co.id), and IDR mid exchange rates from Bank Indonesia (www.bi.go.id), after 5 pm each day. BI reports international reserves data directly, with a lag of approximately two weeks. CEIC provides the latest BI JIBOR rates via a special direct data service. The Directorate General of Debt Management at the Indonesian Ministry of Finance provides data on the foreign holdings of IDR government bonds (www.djppr.kemenkeu.go.id) contains the most recent observation). Indonesian government USD bond spreads are sourced from DEC’s GEM dataset.