Monday, 08 Augst 2022 | 17:32 WIB

Indonesian Foreign Exchange Reserves Rises to US $138.8 Billion

Indonesian Foreign Exchange Reserves Rises to US $138.8 Billion (quoteinspector)

JAKARTA, NETRALNEWS.COM - Indonesia's foreign exchange (forex) reserves reaches US $138.8 billion as of the end of February, 2021. This figure is higher than the previous position of $138 billion as of the end of January, 2021.

"The forex reserves is equivalent to the financing of 10.5 months of imports or 10.0 months of imports and government foreign debt payment, and is above the international adequacy standard of around three months of imports," said Erwin Haryono, Head of Communication Department at Bank Indonesia, on Friday (03/05/2021).

Erwin said Bank Indonesia considers the forex reserves to be able to support the resilience of the external sector, and maintain macroeconomic and financial system stability.

He continued that the increase of forex reserves on February 2021 was mainly influenced by the withdrawal of government loans and tax revenues.

Going forward, Bank Indonesia considers that the forex reserves will remain adequate, supported by stability and a maintained economic outlook, in line with the various policy responses to promote economic recovery.