Indonesia's Foreign Exchange Reserves Down to USD135.2 Billion in September

    Wahyu Dwi Anggoro - 07 Oktober 2020 11:10 WIB
    Indonesia's Foreign Exchange Reserves Down to USD135.2 Billion in September
    Illustration (Photo:Medcom.id/M Rizal)
    Jakarta: Indonesia’s official reserve asset stood at USD135.2 billion as of end-September 2020, remained high despite lower than USD137.0 billion as of end-August 2020. 

    The position of official reserve assets was equivalent to finance 9.5 months of imports or 9.1 months of imports and servicing government’s external debt.

    "Well above the international adequacy standard of three months imports," said Bank Indonesia (BI) Communication Department Head Onny Widjanarko in a press release on Wednesday. 

    BI considers that the official reserve assets position was able to support the external sector resilience and maintain macroeconomic and financial system stability.

    The decline in official reserve assets in September 2020 was influenced by, amongst others, the government’s external debt payments and the Rupiah exchange rate stabilization due to persistently high global financial market uncertainty. 

    Moving forward, the central bank views that the official reserve assets remain adequate, supported by the stability and solid domestic economy outlook, in line with the policy responses to nurture economic recovery.

    (WAH)


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