Indonesia's Forex Reserves Rise to $115.2 Billion
• 07 November 2018 20:11 WIBindonesian economy (en)
The reserve asset position was equivalent to financing of 6.4 months of imports or 6.2 months of imports and servicing of government external debt, well above the international standard of reserve adequacy of 3 months of imports.
"Bank Indonesia considers that the official reserve asset position is able to support the external sector resilience and maintain macroeconomic and financial system sustainability." said the central bank in a written statement on Wednesday,
The increase was mainly influenced by oil and gas foreign exchange revenues and withdrawal of government external debt which surpassed foreign exchange needs for government external debt repayments and rupiah stabilization.
"Going forward, Bank Indonesia considers the official reserve assets remain adequate supported by confidence in stability and upbeat outlook of domestic economy as well as export performance that remains positive," the central bank added.