October Forex Reserves Climb to US$126.7bn



Laila Afifa

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  • TEMPO.CO, Jakarta - Indonesia's foreign exchange reserves at the end of October 2019 were recorded at US$ 126.7 billion. The forex reserves figure reflects a US$2.4-billion increase from September's US$124.3 billion.

    The reserves amount to 7.4 months of imports or 7.1 months of imports plus foreign debt payments.

    The figure is "above the international adequacy standard of three-months imports," Bank Indonesia (BI) spokesman Onny Widjanarko said in a press release in Jakarta, Thursday, November 7.

    According to Onny, the increase in reserves was mainly supported by the government's global bond issuances, forex earnings from oil and gas, as well as other foreign exchange receipts.

    The central bank said that October's forex reserves can support Indonesia's external sector's resilience, as well as maintain the macroeconomic and financial system stability.