Indonesia's Forex Reserves Could Decrease Until End of Year: Economist

Suci Sedya Utami    •    08 November 2017 17:46 WIB
finance and money
Indonesia's Forex Reserves Could Decrease Until End of Year: Economist
Illustration (Photo: MI/Galih Pradipta)

Metrotvnews.com, Jakarta: DBS economist Gundy Cahyadi has predicted that Indonesia's foreign exchange reserves could decrease up to around $125 billion in the end of the year.

The country's foreign exchange reserves decreased to $126.5 billion in October 2017. They dropped by $2.8 billion compared to September 2017.

"It could continue until the end of the year. It could reach around $125 billion," the economist said in Central Jakarta on Tuesday evening.

The country's foreign exchange reserves are needed to anticipate global financial risks. They are used to control rupiah currency movements.

"The public should not be worried. The coverage is still enough," he added.


(WAH)