medcom.id, Jakarta: Bank Indonesia (BI) recorded the position of foreign exchange (forex) reserves by the end of May 2016 at USD103.6 billion, slightly lower than position of forex reserves in the previous month at USD107.7 billion.
According to press release from BI on Tuesday (6/7/2016), the forex reserves at the end of May can cover 7.9 months of imports or 7.6 months of imports and servicing of government foreign debt repayments.
It is also still above the international standards of forex reserves adequacy at three months of imports.
"Bank Indonesia considers the position of official reserve assets is still able to strengthen the resilience of the external sector and maintain the sustainability of Indonesian economic growth," said BI spokesperson Tirta Segara iin the press release.
The decline in May 2016 mainly influenced by seasonal pattern. It is also affected by the use of foreign exchange for government foreign debts repayment and rupiah exchange rate stabilisation.
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