Indonesia's Forex Reserves Rise to USD113.5 Billion

Eko Nordiansyah    •    07 September 2016 19:17 WIB
finance and money
Indonesia's Forex Reserves Rise to USD113.5 Billion
Illustration (Photo: Antara/Rosa Panggabean), Jakarta: Indonesia's foreign exchange reserves increased by USD2.1 billion in August 2016.

It rose from USD111.4 billion in July 2016 to USD113.5 billion in August 2016. Previously, it was at USD109.8 billion in June 2016.

Bank Indonesia (BI) spokesperson Tirta Segara said the increase was mainly influenced by tax revenue, oil and gas revenue and public external debt.

"From the auction of foreign currency BI Securities (SBBI)," Tirta said in a written statement.

According to him, the latest foreign exchange reserves can cover 8.7 months of imports or 8.3 months of imports and government foreign debt repayment.

"BI believes the foreign exchange reserves can maintain economic growth in the future," he stated.