RI's Forex Reserves Rise to $130.2 Billion in December 2017

Wahyu Dwi Anggoro    •    08 Januari 2018 22:58 WIB
indonesian economy (en)
RI's Forex Reserves Rise to $130.2 Billion in December 2017
Illustration (Photo: MI/Rommy Pujianto)

Jakarta: Indonesia’s forex reserve position increased by $4.23 billion to $130.2 billion in December 2017 from $125.97 billion in the previous month.
The forex reserve position was primarily attributable to foreign exchange receipts, among other from government’s issuance of global bonds as well as tax revenues and government oil & gas export proceeds.

"The receipts surpassed the uses of foreign exchange primarily for repayments of government external debt and Bank Indonesia foreign exchange bills matured during the period," said Bank Indonesia spokesperson Agusman in a written statement on Monday afternoon.

The forex reserve position adequately covered 8.6 months of imports or 8.3 months of imports and servicing of government external debt repayments, well above the international standard of reserve adequacy of 3 months of imports. 

"Bank Indonesia will continue to maintain reserve adequacy to support preserved macroeconomic and financial system stability. It is supported by a remained positive domestic economic conditions, improved export performance, and conducive global financial market development," he added.