BI Reveals Foreign Exchange Reserves Reach 155.7 Billion US Dollars By The End Of 2024

JAKARTA - Bank Indonesia (BI) recorded that Indonesia's foreign exchange reserves at the end of December 2024 were recorded at 155.7 billion US dollars, this figure increased compared to the position at the end of November 2024 of 150.2 billion US dollars.

Executive Director of the BI Communication Department, Ramdan Denny Prakoso, said that the increase in the position of foreign exchange reserves, among others, came from tax and service revenues, government foreign loan withdrawals, and receipts of oil and gas foreign exchange, amid the policy of stabilizing the Rupiah exchange rate in line with increasing uncertainty in the global financial market.

"The position of foreign exchange reserves at the end of December 2024 is equivalent to financing 6.7 months of imports or 6.5 months of imports and payment of government foreign debt, and is above the international adequacy standard of around 3 months of imports," he said in his statement, Wednesday, January 8.

Ramdan assessed that the foreign exchange reserves were able to support the resilience of the external sector and maintain macroeconomic and financial system stability.

In the future, Ramdan conveyed that Bank Indonesia saw adequate foreign exchange reserves to support the resilience of the external sector.

According to Ramdan, export prospects that remain positive and the balance of capital and financial transactions that are predicted to continue to record a surplus are in line with investor positive perceptions of the national economic outlook and attractive investment returns, supporting maintained external resilience.

"Bank Indonesia also continues to strengthen synergy with the Government in strengthening external resilience so that it can maintain economic stability in order to support sustainable economic growth," he said.