Jakarta: Indonesia's official reserve assets position remained high at USD132.2 billion as of end-August 2022, relatively stable compared with USD132.2 billion as of end-July 2022, Bank Indonesia (BI) has said.
The development of official reserce assets in August 2022 was influenced, amongst others, by tax and services receipts, oil and gas foreign exchange receipts, and the need for Rupiah stabilisation in line with persistently elevated global financial market uncertainty.
"Bank Indonesia considers the official reserve assets position ample to support the external resilience and maintain macroeconomic and financial system stability," BI Communication Department Head Erwin Haryono said in a press release on Wednesday.
The position of official reserve assets was equivalent to finance 6,1 months of imports or 6,0 months of imports and servicing government's external debt.
It was well above the international adequacy standard of three months imports.
"Moving forward, Bank Indonesia views that the official reserve assets remain adequate, supported by the stability and solid domestic economic outlook, in line with the policy responses to maintain macroeconomic and financial system stability and to support the national economic recovery process," he concluded.
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