Indonesia's Foreign Exchange Reserve Drops to $144.9 Bn in December



Laila Afifa

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    Logo or illustration of Bank Indonesia. TEMPO/Imam Sukamto

    TEMPO.CO, Jakarta - Bank Indonesia (BI) recorded a drop in Indonesia’s foreign exchange reserve at US$144.9 billion by the end of December. In November, it recorded at US$145.9 billion. 

    BI head of communication Erwin Haryono in a statement on Friday, January 7, wrote “The drop in foreign exchange reserves in December 2021 was affected by the government’s foreign debt payment.”

    The amount, he went on, was equivalent to financing 8.0 months of imports or 7.8 months of imports and paying the government's foreign debt.

    Bank Indonesia views that the foreign exchange reserves is capable of supporting external sector resilience and maintaining macroeconomic and financial system stability. BI sees foreign exchange reserves as adequate, which they say is supported by stability and maintained economic prospects.