Forex Reserves Decline to USD111.5 Billion in November

medcom.id, Jakarta: Indonesia's foreign exchange reserves declined to USD111.5 billion at the end of November from USD115 billion in October.
 
The decline was caused by foreign debt repayments and stabilization of rupiah.
 
Nevertheless, the amount is still enough to cover 8.5 months of imports or 8.1 months of imports and foreign deby payments.

"It is well above the international standard of three months," Bank Indonesia communication director Arbonas Hutabarat said in a written statement on Wednesday (12/7).
 
Arbonas stated the decline will be temporary. The central bank will continue to maintain reserve adequacy.
 
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