Indonesia's forex reserves rise to 138 bln USD in January
Source: Xinhua | 2021-02-06
Indonesia's foreign exchange reserves rose to 138.0 billion U.S. dollars at the end of January, according to Bank Indonesia, its central bank, on Friday.
Head of the bank's Communication Department, Erwin Haryono, said the figure marked an increase from 135.9 billion U.S. dollars in December.
The increase came largely as a result of the issuance of government global bonds and tax revenues.
"This amount is equivalent to financing 10.5 months of imports, or 10.0 months of imports and government foreign debt payments. This position of the foreign exchange reserves is above the international adequacy standard of around three months of imports," Haryono said.
Bank Indonesia said the existing foreign exchange reserves are sufficient to support the external sector resilience and maintain the macroeconomic stability as well as the country's financial system.
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