INDONESIA D AILY ECONOMIC UPDAT E
                                      Tuesday, 23 July 2019



ECONOMIC HIGHLIGHTS

     The Government allowed for development of new special economic zones on Java
         Island with special criteria to avoid redundancy with the existing industries in Java.




DAILY INDONESIAN FINANCIAL INDICATORS

                                                                               Change                  Change or total
                                                         Date of                since
                                                                     Unit
                                           Latest         latest                 last        In last       In last    Year-to-
                                           value          value                trading       week*         month*      date
                                                                                 day

Stock market                                  6,404        23 Jul                              -0.5%          0.0%         1.4%
Jakarta Composite Index                       -0.03        23 Jul    IDR, tn            --       -1.5          12.5         70.3
                  Net purchases by
                   foreign investors

Exchange rate: IDR/USD                       13,973        23 Jul                   0.1%        0.3%          -1.0%       -3.5%
                   Bank Indonesia            13,985        23 Jul                   0.3%        0.4%          -1.2%       -2.8%
                       Bloomberg

Government bonds                              6.1%         23 Jul       bps           0.2         -2            -44         -74
              Yield: 1 year IDR bond          6.7%         23 Jul       bps           3.8          6            -41        -133
              Yield: 5-year IDR bond          7.3%         23 Jul       bps           4.8         10            -25         -83
             Yield: 10-year IDR bond          1,011        19 Jul    IDR, tn            --        11             52         117
       Foreign holdings of IDR bonds            172        22 Jul       bps          -0.5          1             -8         -65
   Indonesia USD bonds strip spread             171        22 Jul       bps          -0.5          0             -5         -47
        Asia USD bonds strip spread              86        22 Jul       bps           1.0          1             -6         -51
 Indonesia sovereign CDS: 5yr, mid-
                                price

Corporate bonds                                    280     22 Jul        bps         -0.8              7        -42        -132
  Indonesia USD bonds strip spread

Interest rates                                 5.6%        22 Jul        bps         -1.4       -18.8         -15.7        -26.4
                            IndONIA            -11.2       22 Jul        bps         -1.4         6.2           9.3         -1.4
              IndONIA spread relative
                        to policy rate
                                              123.8       30 Jun    USD, bn            --          --           3.5          3.2
International reserves                        6,404        23 Jul                  -0.5%        0.0%          1.4%         3.4%

* One week and month prior to latest observation


SOURCES
Data are taken from the following: the latest Jakarta Stock Exchange and Indonesian government IDR bond yield data are taken
from the Indonesian Stock Exchange (www.idx.co.id). BI IndONIA and IDR mid exchange rates from Bank Indonesia (www.bi.go.id),
after 5 pm each day. BI reports international reserves data directly. 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). The CDS
premium on 5-year Indonesian government USD bonds and Indonesian corporate bond spreads are sourced from JPMorgan.