The Indonesian Central Bank (BI) noted that it has purchased government securities (SBN) worth Rp70.74 trillion (US$4.3 billion) to maintain the stability of the rupiah exchange rate. SBN purchases have been particularly intensive in the past month.

Central Bank Governor Perry Warjiyo said that the purchase of SBN was carried out as a measure to expand liquidity. BI purchased SBN from the secondary market worth Rp47.31 trillion and the primary market in the form of State Treasury Bills, including sharia bonds  worth Rp23.43 trillion.

"Why do we need liquidity expansion? Because we need to intervene to stabilize the rupiah exchange rate," Perry said on Wednesday, March 19, 2025.

BI's purchase of SBN is in accordance with the provisions. BI purchases debt securities in the secondary market and in the primary market, but is limited to short-term debt securities under 1 year.

"We ensure that the purchase of SBN is in accordance with the direction of monetary policy. Yes, the direction of monetary policy is that we need expansion," Perry said. 

He ensured that BI has the aim of maintaining the stability of the rupiah in supporting sustainable economic growth.

"The goal of a sustainable economy is the same as the goal of our national economy, namely stability, economic growth and job creation," he said. 

BI has been aggressively purchasing SBN this year, especially in the past year. Total SBN purchases amounted to Rp70.7 trillion from the beginning of the year until Tuesday, March 18, 2025. An amount of Rp38 trillion was purchased in the past month.

Previously, BI noted that SBN purchases throughout the beginning of the year until February 17, 2025 reached Rp32.46 trillion. SBN purchases in the secondary market reached Rp19.46 trillion, while in the primary market at Rp12.99 trillion.