Forex Reserves Increase to USD121.8 Billion in March

Eko Nordiansyah    •    07 April 2017 19:54 WIB
finance and money
Forex Reserves Increase to USD121.8 Billion in March
Illustration (Photo: Bank Indonesia), Jakarta: Bank Indonesia has announced that foreign exchange reserves increased by USD1.9 billion to USD121.8 billion in March 2017.

"The increase was primarily attributable to foreign exchange receipts, such as tax revenues, government oil and gas export proceeds, issuance of government global bonds, as well as auction of Bank Indonesia foreign exchange bills" Bank Indonesia said Friday.

"The receipts surpassed the use of foreign exchange for repayments of government external debt and Bank Indonesia foreign exchange bills," Bank Indonesia said.

The foreign exchange reserves covered 8.9 months of imports or 8.6 months of imports and government external debt repayments.

"Well above the international standards of reserves adequacy at 3 months of imports," Bank Indonesia said.