Institutions use Jibor to determine interest rates for bank deposits, swaps and consumer loans, among other things. “Indonia is considered to better reflect interest rate movements in the market,” said Benny Aroeman, the head of markets at Citibank Indonesia. While the central bank has lowered the benchmark interest rate by 125 basis points so far this year, lending rates have only fallen 24 basis points. Jibor, for instance, is determined by quotations from 17 contributing banks, while Indonia is based on all transactions that occurred in the overnight interbank money market. Average daily interbank transactions reached 15.4 trillion rupiah — or around 63.5% of total money market transactions — throughout 2025, according to the central bank.

Source: The Edge Markets December 28, 2025 23:23 UTC