Sun, 02 Oct 2022

JAKARTA, Aug. 5 (Xinhua) -- Indonesia's foreign exchange reserves at the end of July amounted to 132.2 billion U.S. dollars, dropping by 4.2 billion dollars from the previous month, according to the Indonesian central bank.

In June, the forex reserves were recorded at 136.4 billion dollars.

The forex reserves are equivalent to financing 6.2 months of imports or 6.1 months of imports and paying government's foreign debts, head of the Communication Department of Bank Indonesia, Erwin Haryono, said in a press release on Friday.

"The drop was caused by the need to pay our foreign debts and to stabilize the rupiah exchange rate as the global financial market remains uncertain," Haryono said.

The central bank considers that forex reserves would remain adequate as they are supported by stability and maintained economic prospects in line with various policy responses to promote economic recovery, he said.

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