BI: Indonesia's Forex Reserves Reach US$137.3 Bn in July
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August 6, 2021 | 03:31 pm
TEMPO.CO, Jakarta - Bank Indonesia noted that the country’s foreign exchange (forex) reserves reached US$137.3 billion at the end of July 2021.
“[The figures] increased compared to the position at the end of June 2021 at US$137.1 billion,” said BI’s Head of Communication Department, Erwin Haryono, in a written statement, Friday, August 6.
The amount of the reserves will be sufficient to finance 8.6-8.9 months of imports and foreign debts. It is also higher than the international standard of three months of imports.
“BI assessed that the foreign exchange reserves would be able to support the resilience of the external sector and maintain Indonesia’s macroeconomic and financial system stability,” Erwin remarked.
According to him, the hike in the forex reserves in July 2021 was generated by the issuance of government bonds and tax revenue.
“Bank Indonesia hopes the foreign exchange reserves will remain sufficient, which is supported by the maintained stability and economic prospects, in line with various policies that promote economic recovery,” Erwin concluded.
Read: Indonesia Foreign Exchange Reserves Grow to US$137.1 Bn in June
MUHAMMAD HENDARTYO
