Paying Debt And Stabilizing Rupiah, Foreign Exchange Reserves April 2024 Drop To 136.2 Billion US Dollars

JAKARTA - Bank Indonesia (BI) recorded the position of Indonesia's foreign exchange reserves at the end of April 2024 amounting to 136.2 billion US dollars. This figure is down when compared to the position at the end of March 2024 of 140.4 billion US dollars.

Director of the Communication Department Fadjar Majardi said that the decline in the position of foreign exchange reserves was influenced, among other things, by the payment of government foreign debt and the need for stabilization of the Rupiah exchange rate in line with the increasing uncertainty in the global financial market.

Fadjar said the position of foreign exchange reserves was equivalent to financing 6.1 months of imports or 6.0 months of imports and payment of government foreign debt, and was above the international adequacy standard of about 3 months of imports.

"Bank Indonesia assesses that foreign exchange reserves are able to support the resilience of the external sector and maintain macroeconomic and financial system stability," he explained in his official statement, Wednesday, May 8.

In the future, Fadjar said that Bank Indonesia views that foreign exchange reserves will remain adequate, supported by stability and maintained national economic prospects.

This is in line with the synergy of the policy mix taken by Bank Indonesia and the Government in maintaining macroeconomic and financial system stability to support sustainable economic growth.