Jakarta: Indonesia's official reserve assets as of end-November 2019 stood at USD126.6 billion. It was relatively unchanged from USD126.7 billion as of end-October 2019.
The position of official reserve assets was equivalent to finance 7.5 months of imports or 7.2 months of imports and servicing government’s external debt. It was well above the international adequacy standard of three months imports.
"Bank Indonesia considers that the official reserve assets position was able to support the external sector resilience and maintain macroeconomic and financial system stability," the central bank said in a press release issued on Friday, December 6, 2019.
"The development of official reserve assets in November 2019 was mainly attributable by oil & gas foreign exchange receipts, other foreign exchange receipts, and government external debt payments," it added.
Moving forward, the central bank views that the official reserve assets remain adequate. The view is supported by the stability and solid domestic economy prospect.
Indonesia amassed a USD0.16 billion trade surplus in October 2019. It reversed the previous USD0.16 billion deficit recorded the month earlier.