Jakarta: Indonesia's official reserve assets stood at USD129.2 billion as of end-December 2019, increasing from USD126.6 billion as of end-November 2019.
The position of official reserve assets was equivalent to finance 7.6 months of imports or 7.3 months of imports and servicing government’s external debt.
"well above the international adequacy standard of three months imports," Bank Indonesia (BI) said in a press release issued on Wednesday, January 8, 2020.
The central bank considers that the official reserve assets position was able to support the external sector resilience and maintain macroeconomic and financial system stability.
The development of official reserve assets in December 2019 was mainly attributable by oil and gas foreign exchange receipts, withdrawal of government foreign loan, and other foreign exchange receipts.
Moving forward, the central bank views that the official reserve assets remain adequate, supported by the stability and solid domestic economy prospect.