Illustration (Photo:Medcom.id)
Illustration (Photo:Medcom.id)

Indonesia's Foreign Exchange Reserves Increase to USD135.9 Billion in December

English indonesian economy
Wahyu Dwi Anggoro • 08 January 2021 12:35
Jakarta: Indonesia’s official reserve assets stood at USD135.9 billion as of end-December 2020, increasing from USD133.6 billion as of end-November 2020. 
 
The position of official reserve assets was equivalent to finance 10.2 months of imports or 9.8 months of imports and servicing government’s external debt.
 
"Well above the international adequacy standard of three months imports," said Bank Indonesia (BI) Communication Department Head Erwin Haryono in a media release on Friday.

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The increase of official reserve assets in December 2020 was mainly influenced by government’s foreign loan withdrawal and tax receipts. 
 
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.
 
Moving forward, it views that the official reserve assets remain adequate, supported by the stability and solid domestic economic outlook, in line with the policy responses to stimulate economic recovery.

 
(WAH)
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