Thursday, April 1, 2010

Pressures continue to SBI rate of 1 month

The Bank Indonesia Promissory Notes (SBI) on month lending rate got pressures until under BI rate of 6.5 percent along with the central bank plan to minimize instrument absorption in June 2010.
Based on the SBI bid per March 31, 2010, the yield of SBI one month was 6.27 percent. The figure continues to fall as from 6.3-6.5 percent in past few weeks.
Unlike the yield of SBI one month, the SBI rate of three months has increasing trend as from the past few weeks. Besides, the offering value grew significantly.
In yesterday auction, SBI three months rate as 6.55 percent or higher from the former two weeks of 6.52 percent. The mounting interest also happened to the SBI 6 months into 6.68 percent as from two weeks before of 6.624 percent. The yield of SBI sharia equals to SBI 1 month.
SBI one month on the March 31, 2010 auction rose slightly into IDR15 trillion as form the former week of IDR11 trillion. The SBI three months dropped by IDR$ trillion as from the pervious week into IDR21.47 trillion.
The absorption of SBI six months rose slightly into IDR4.82 trillion as from IDR3.92 trillion. SBI sharia tends to be stagnant at IDR555 billion. Total absorption of SBI stood at IDr41.85 trillion from DIR50 trillion of indicative limit.

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