Indonesia's Forex Reserves Rise USD4.67 Billion in July 2017

Eko Nordiansyah    •    08 Agustus 2017 12:33 WIB
export import
Indonesia's Forex Reserves Rise USD4.67 Billion in July 2017
Illustration (Photo: MI/Panca Syurkani)

Metrotvnews.com, Jakarta: Bank Indonesia recorded the country's foreign exchange reserve asset position increased by USD4.67 billion to USD127.76 billion in July 2017 from USD123.09 billion in June 2017.

The foreign exhange reserve asset position was mainly influenced by foreign exchange receipts, including government’s issuance of global bonds, tax revenues, government energy export proceeds, and auction of Bank Indonesia foreign exchange bills. 

"The foreign exchange receipts surpassed the uses of foreign exchange primarily for repayments of government external debt and Bank Indonesia foreign exchange bills matured during the period," Bank Indonesia spokesperson Agusman said in a press release on Monday, August 7, 2017.

The foreign exchange reserve asset position adequately covered 9,0 months of imports or 8.7 months of imports and servicing of government external debt repayments.

"Bank Indonesia considers the official reserve assets are able to strengthen the resilience of the external sector and maintain the sustainability of Indonesian economic growth," he added.


(WAH)