Bank Indonesia (BI) announced Monday five measures to stabilize the rupiah as foreign investors sold off Indonesian financial assets from stocks to bonds and after Indonesia officially reported its first coronavirus cases.First, starting March 16, the requirement for banks to store their dollar funds at BI, called the US$ reserve requirement ratio (RRR), would be lowered to 4 percent from 8 percent at present. Second, the rupiah RRR is also being lowered by 50 basis points (bps), but only for banks with clients engaged in export and import activities, starting April 1.“Lowering the foreign exchange RRR will boost banks’ liquidity by $3.2 billion while lowering the rupiah RRR will support export and import activities,” BI Governor Perry Warjiyo told a news conference in Jakarta on Monday after President Joko “Jokowi” Widodo announced the first coronavirus cases in the country. Topics : “We’ve increased the volume [of intervention] so the market is assured and confident that BI is always in the market to guard the market,” Perry said. “BI will intensify intervention in the financial market through triple intervention to stabilize the rupiah to follow its fundamental [value].”Read also: ‘Triple market intervention’: BI buys bonds, rupiah to prop up prices amid viral routFourth, the central bank now allows foreign investors who sell rupiah bonds but place their proceeds in Indonesian banks to turn them into underlying transactions in the domestic non-deliverable forward (DNDF) market. Therefore, foreign investors no longer need to hedge to offshore indexes.“This will enable investors to commit to Indonesia, which would be strong in the future,” Perry said.Fifth, BI also encourages foreign investors to use domestic banks as custodians for investment activities.“The measures could be effective to stabilize the rupiah from the supply-side of the US dollar and anchor the thin domestic foreign exchange market,” Bahana Sekuritas economist Satria Sambijantoro said.“So far, BI’s intervention to support rupiah and bond yields – including daily reverse-auctions over the past few days, amounting to Rp 2 trillion today – is focusing to resolve the demand-side problem.”Exporters of commodities such as palm oil and coal are natural foreign exchange suppliers in the spot currency market, but recently their earnings dried up due to disruption in shipments to China, Satria explained.Meanwhile, massive sell-offs in bond and equity markets have seen foreign investors converting their US dollars to rupiah, disrupting demand for the local currency, he added.Read also: Disappearing act: Market braces for volatile March after $2.4b vanishes in a week Read also: BI cuts reserve ratio, frees up $3.2b liquidity in local banks amid market sell-offJokowi announced on Monday morning that two Indonesians had tested positive for COVID-19. The two people, a 64-year-old and her 31-year-old daughter, had been in contact with a Japanese citizen who tested positive in Malaysia on Feb. 27 after visiting Indonesia in early February. Worldwide, more than 84,000 people have been infected with the virus and more than 3,000 have died with new cases increasingly emerging outside the country in which it is believed to have originated.Third, BI was conducting “triple intervention in the financial market”: stabilizing the rupiah in the domestic non-deliverable forward (DNDF) and spot markets, as well as buying government bonds (SBN) on the secondary market.The central bank has bought Rp 103 trillion (US$7.24 billion) worth of SBNs, Rp 80 trillion of which followed its assessment that the novel coronavirus may pose risks to Indonesia’s economy. Last week, foreign investors sold a net Rp 33.6 trillion (US$2.36 billion) in both Indonesian stocks and bonds, as $5 trillion was wiped off stock markets around the world in the worst week for global shares since the 2008 financial crisis.Over the week, the benchmark stock index, the Jakarta Composite Index (JCI), fell 7.3 percent to 5,452 and the rupiah depreciated by 4.1 percent to 14,234 per US dollar. Ten-year Indonesian government bond yields, which indicate investment risk, rose 35 basis points last week to 6.83 percent, the third-biggest increase after Turkey and Russia.
Driven by destiny, leadership and prowess on both the offensive and defensive end, this team stands alone.No, I’m not talking about the ’85 Bears who finished 15-1 and went on to dismantle the competition in the playoffs, cruising to victory in Super Bowl XX. Nor am I referring to Michael Jordan and his Bulls’ wondrous 1995-96 team that went 72-10. And I’m certainly not citing any of the Celtics teams back in the 60s, the Montreal Canadiens during the 50s through 70s, or even the UCLA teams that won seven straight NCAA titles between 1967 and 1973.In fact, I’m not talking about a team or season that is even on the national radar. What I’m talking about is the Wisconsin women’s hockey team.Look at it. What you’ll find is downright absurd. And outside of Madison, practically nobody knows it. Just like those teams, the Badgers are in a league of their own.Chew on these numbers. Last season, the Badgers capped a 36-4-1 finish with their first national championship. This year, it has been more of the same.Now, there is still plenty of hockey left to be played. They have more talent than some NCAA men’s teams, and they certainly have more heart than Ricky Bobby.There have been some ridiculous streaks in sports lore, including the 1971-72 Lakers’ 33-game winning streak, Oklahoma football’s 47-game winning streak from ’53 to ’57, the 1916 New York Giants’ 26-gamer on the diamond and the 1993 Pittsburgh Penguins’ 17-gamer. These are the streaks of the best there ever were.Sports are difficult to compare across one another, no doubt, but the women’s hockey team won — not tied — 18 straight games, and put together a string of 26 games where they skated to just one tie, going 25-0-1, before being blanked by the Bulldogs of Minnesota-Duluth. For basically three-fourths of a season, the hockey team didn’t lose. To put the duration of that streak in perspective, it would be like the Bulls winning 60 consecutive games that historic season. In football, 26 consecutive games would have assured Matt Leinart’s Trojans two consecutive undefeated seasons. And he still would have gone home with a doggy bag for the remainder.But this UW team isn’t just about one streak. No, after Wisconsin lost 2-0 to Minnesota-Duluth, it has begun another streak. Currently, it is riding a 13-game unbeaten streak. So in the past 40 games, the Badgers have gone 36-1-3 (.938). Although it isn’t perfect, it’s pretty darn close.To me, I find it borderline absurd that when Johnson talked with me a few weeks back about their “slip-ups” to St. Cloud State, we were talking about ties. Not losses, but ties. This team is that good: a tie, not a loss, means the Badgers didn’t play to their utmost potential.And what potential they have. Entering the weekend where Wisconsin outscored Minnesota State 5-0 and 8-0, it ranked No. 4 in the country in goals scored and No. 1 in goals allowed at 1.08. On the power play, the Badgers score at a 32 percent rate (best in the nation) while holding their opponents to a 9 percent conversion rate.During the month of January, the Cardinal and White has outscored its opponents 42-2 over eight games. At one point the Badgers pitched four-straight shutouts and out-shot their opponents by a three-to-one margin. Now if Bobby Boucher were a real athlete, I could put this team’s dominance in perspective, but since he’s not, I feel that there isn’t anyone or any team right now that would do them justice.Sure, Wisconsin is just 1-1-1 when trailing after the second period. But it’s never in that position, so there isn’t much cause for concern. The fact that they have had the lead after two periods in 24 of 28 games says it all.Of course this season would all go to waste if they didn’t win the NCAA Championship, which, according to Johnson, could very well happen.”Once playoff time comes around, Coach always says you can blink your eyes and it can be done,” said freshman forward Meghan Duggan, who is tied for second among rookies with 37 points. “So we’re just going to stay on track and keep playing the way we’ve been playing.”But let’s be realistic. On any given night this squad is going to win 94 percent of the time. Odds are in their favor.And with players and leadership who have been there before and played in the big games, as well as the almost gut-wrenching talent they have up and down their roster, there isn’t a team in the country who will beat them.I know it’s a long way to the eight consecutive championships that the Celtics won during the 60s, but the Wisconsin Badgers women’s hockey team is well on its way.Kevin is double majoring in journalism and economics. If you would like to discuss the women’s hockey team’s success or possibly your list of the best teams ever, he can be reached at firstname.lastname@example.org.
Share SBC Roundtable: A new ‘Pace’ for live cricket trading July 8, 2020 Mark Wilson: How FSB is meeting the recreational cricket punter’s demands August 20, 2020 Share The United Kingdom is to receive its first “fully-dedicated fantasy cricket platform” after StarPick launched following “phenomenal success” enjoyed this year in India. Headquartered in the UK, StarPick expansion comes after being founded in February 2018, with the latest launch made in conjunction with a three year shirt sponsorship of Gloucestershire County Cricket Club (GCCC).Designed and build in Sweden, the platform, which generated 650,000 Indian users in a 90 day period following launch, affords UK based players the chance to build a virtual fantasy team. Competing with other managers online, users can select a variety of the world’s cricketing talent, whose statistical data from real world performances will be analysed for the fantasy tournaments.Awarded points based on such performances in live matches, StarPick details a series of cash prizes will be on offer, including an inaugural over £1m.Rohit Nair, StarPick Co-Founder, said: “We’re very proud to be the new sponsor of Gloucestershire County Cricket Club, and look forward to a very exciting season ahead. It will be a special moment for all of us at StarPick when the team line up in their new kits against Somerset tonight.“Our fantasy cricket platform has been very well received by cricket fans in India, and we’re confident that we can replicate that success in the in the UK by giving cricket fanatics the chance to build their own fantasy team and engage with like minded supporters.” In conjunction with the launch, StarPick will see its brand feature on GCCC’s kit for the first time in tonight’s Twenty20 fixture against Somerset at Taunton’s County Ground.Branding is to also be prominently featured at the Brightside Ground in Bristol for Gloucestershire’s home matches throughout the partnership.Will Brown, Gloucestershire County Cricket Club CEO, said: “We’re thrilled to have StarPick join us as our main team sponsor. The world of fantasy cricket has gone from strength-to-strength recently, and we hope that through our partnership we can bring that enjoyment to the UK.” Related Articles StumbleUpon Submit HBLB ups prize money commitment by 50% July 31, 2020