Jakarta: Indonesia's official reserve assets increased to USD126.7 billion at the end of October 2019 from USD124.3 billion at the end of September 2019.
According to Bank Indonesia (BI), the position of official reserve assets was equivalent to finance 7.4 months of imports or 7.1 months of imports and servicing government’s external debt.
"Well above the international adequacy standard of three months imports," BI said in a written statement released on Thursday, November 7, 2019.
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 increase in official reserve assets in October 2019 was mainly underpinned by the government’s global bond issuance, oil and gas foreign exchange receipts, as well as other foreign exchange receipts.
"Moving forward, Bank Indonesia views that the official reserve assets remain adequate, supported by the stability and solid domestic economy prospect," BI stated.