Jakarta: Indonesia's official reserve assets position remained high at USD130.2 billion as of end-October 2022, slightly declining from USD130.8 billion as of end-September 2022, according to Bank Indonesia (BI).
The decrease in the official reserve assets position in October 2022 was influenced, amongst others, by the payment of government's external debt and the need for Rupiah stabilisation in line with increasing 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 Director Junanto Herdiawan said in a media release on Monday.
"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 stated.
The position of official reserve assets was equivalent to finance 5.8 months of imports or 5.6 months of imports and servicing Government's external debt.
It was well above the international adequacy standard of three months imports.
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