Foreign Exchange Reserves Down to $124.9 Billion in April: BI

Eko Nordiansyah    •    08 Mei 2018 22:58 WIB
indonesian economy (en)
Foreign Exchange Reserves Down to $124.9 Billion in April: BI
Illustration (Photo: MI/Rommy Pujianto)

Jakarta: Indonesia’s official reserve assets stood at $124.9 billion in the end of April 2018, lower than $126.0 billion recorded in the end of March 2018. 

The reserve asset position was equivalent to financing of 7.7 months of imports or 7.4 months of imports and servicing of government external debt, well above the international standard of reserve adequacy of 3 months of imports.

"Bank Indonesia considers the position of official reserve assets is able to support the external sector resilience and maintain macroeconomic and financial system sustainability," the central bank said in a written statement received by Medcom.id.

The decline in the reserve assets in April 2018 was mainly due to the use of foreign exchange to repay government external debt and to stabilize rupiah, although there is still high uncertainty in global financial market. 

"Bank Indonesia considers the official reserve assets remain adequate in line with preserved confidence in the upbeat outlook for the domestic economy and positive export performance," it added.


(WAH)