TEMPO.CO, Jakarta - Indonesia’s foreign exchange reserves at the end of April 2015 recorded a US$700 million drop into US$110.9 billion from the previous US$111.6 billion at the end of the previous month.
Director of Communication Department of Bank Indonesia Peter Jacobs said that the decline was particularly triggered by the increase in spending to pay the government’s foreign debts and stabilization of the rupiah exchange rate.
However, Peter said that the reserve until the end of April 2015 was enough to finance imports in 6.9 to 6.7 months and pay the government’s foreign debts. He also said the current reserve is above the international standard of sufficiency for imports for 3 months.
"Bank Indonesia considers that the current foreign exchange reserve is still able to maintain the sustainability of Indonesia’s economic growth in the future,” Peter added.
For the record, in March 2015, Indonesia’s foreign exchange reserve at the end of March 2015 was recorded to drop by US$3.9 billion, into US$111.6 billion from the previous US$115.5 billion in February 2015.