medcom.id, Jakarta: Bank Indonesia recorded that the country’s foreign exchange reserves increased to USD119.9 billion in February 2017 from US$116.9 billion in January 2017.
"The increase was primarily attributable to foreign exchange receipts," Bank Indonesia spokesperson Tirta Segara in Jakarta on Tuesday.
"The receipts surpassed the use of foreign exchange for repayments of government external debt and Bank Indonesia foreign exchange bills," he continued.
The position can cover 8.9 months of imports or 8.5 months of imports and government external debt repayments.
Bank Indonesia believes the foreign exchange reserves can strengthen the resilience of the external sector and maintain the sustainability of Indonesian economic growth.
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