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Foreign Exchange Reserves Stand at 121.8bn USD in Q1
Friday, 19 May, 2017 | 11:20 WIB
Foreign Exchange Reserves Stand at 121.8bn USD in Q1

TEMPO.CO, Jakarta - The Governor of Bank Indonesia Agus Martowardojo said that Indonesia’s foreign exchange reserves in the first quarter of 2017 stand at 121.8 billion USD. According to Agus, the figure increased at the end of April to US$123.2 billion.

“The amount is equivalent to 8.9 months of imports,” Agus told Tempo yesterday, May 18.

The BI governor added that the foreign exchange reserves are equivalent to 8.6 months of imports and government debt servicing. “The figure stands above international adequacy standard of around 3 months of imports.”

According to Agus, Indonesia had a trade surplus in the first quarter of 2017, which was attributable to capital and financial transaction surplus.

The trade balance was at US$4.5 billion, relatively similar to the previous quarter but higher on a year on year basis. Moreover, capital inflows into Indonesia were substantial leading to increased capital and financial account surplus of US$7.9 billion.

The surplus was in line with better economic growth and positive investor perception toward Indonesia’s economy. Agus Marto said that current account deficit was at US$2.4 billion or 1 percent of the country’s GDP, underpinned by oil and gas account deficit and primary revenue that was higher compared to non-oil and gas trade surplus.

DIKO OKTARA



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