Wed, 22 Mar 2023

Indonesia's forex reserves increase in January

08 Feb 2023, 02:05 GMT+10

JAKARTA, Feb. 7 (Xinhua) -- Indonesia's foreign exchange reserves reached 139.4 billion U.S. dollars at the end of January this year, supported by the issuance of government global bonds as well as tax and service revenues, the central bank said on Tuesday.

This figure was more than the 137.2 billion dollar foreign exchange reserves in December 2022.

"The position of foreign exchange reserves was well above the international adequacy standard of three months' imports," said Erwin Haryono, executive director of the Communication Department of Bank Indonesia. "It was equivalent to financing 6.1 months of imports."

Bank Indonesia sees these foreign exchange reserves can enhance the resilience of the external sector while preserving the macroeconomic and financial system's stability.

According to Bank Indonesia, stability and policy responses for the country's economic recovery will ensure that the foreign exchange reserves remain sufficient in the future.

More Indonesia News

Access More

Sign up for Indonesia News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!