Indonesia's Foreign Exchange Reaches US$138 Bn in April
Translator
Ricky Mohammad Nugraha
Editor
Markus Wisnu Murti
Jumat, 7 Mei 2021 14:58 WIB
Logo or illustration of Bank Indonesia. TEMPO/Panca Syurkani
TEMPO.CO, Jakarta - Bank Indonesia (BI) logged an increase in Indonesia’s foreign exchange reserves to US$138.8 billion by the end of April, which is an improvement compared to the end of March this year with US$137.1 billion.
The spokesperson of Indonesia’s central bank, Erwin Haryono, explained in a written statement that the foreign exchange reserve’s position equated to 10.0 months of import financing or 9.6 months of imports and servicing of government external debts.
He also stated this number meant the number was above a three-month coverage of the international reserve adequacy standard. Haryono attributed the growth in April to tax revenues and withdrawal of government foreign loans.
Bank Indonesia believed that the foreign exchange reserves would be able to support the resilience of the external sector and maintain macroeconomic stability, along with the financial system. Supported by stability and a maintained economic outlook, BI views the foreign exchange reserves as adequate.
