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Foreign Exchange Reserves Climb to US$109.8 Billion

Translator

Editor

14 July 2016 20:10 WIB

An employee of Bank Indonesia entered the bank's headquarters in Jakarta, July 12, 2016. Tempo/Tony Hartawan

TEMPO.CO, Jakarta-Bank Indonesia (BI) announced that Indonesia’s foreign exchange reserves in June 2016 stood at US$109.8 billion, increasing from US$103.6 billion in the previous month.

Bank Indonesia spokesperson Tirta Segara said that the increase in the foreign exchange was generated by foreign exchange incomes from the issuance of government bonds, auctions of Bank Indonesia’s foreign exchange bills (SBBI), tax revenue and oil and gas foreign exchange, and government loans.

“The amount exceeds the needs of foreign exchange to repay the foreign debts and SBBI maturity,” Tirta said in a press release on Thursday, July 14, 2016.

According to Tirta, BI has predicted that the foreign exchange reserves in June would be sufficient to finance 8.4 of imports or 8.1 of imports and foreign debts. The amount of the foreign exchange reserves is also higher than the international standard of three months of imports.

BI viewed that the foreign exchange reserves would be able to support the resilience of the external sector and maintain Indonesia’s economic growth sustainability in the future.

GHOIDA RAHMAH



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