BI Notes That Indonesia's Foreign Exchange Reserves Have Skyrocketed to 138 Billion US Dollars

Rupiah illustration (Photo: dock. Antara)

JAKARTA - Bank Indonesia (BI) recorded that Indonesia's foreign exchange reserves at the end of November 2023 reached 138.1 billion US dollars. This figure is an increase compared to the end of October 2023 of 133.1 billion US dollars.

Head of the BI Communications Department, Erwin Haryono, said that the increase in foreign exchange reserves was influenced, among other things, by the government's issuance of global bonds and the withdrawal of government foreign loans.

"The position of foreign exchange reserves is equivalent to financing 6.3 months of imports or 6.1 months of imports and payment of government foreign debt, and is above the international adequacy standard of around 3 months of imports," he explained in his official statement Thursday, December 7.

Erwin 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, Erwin views that foreign exchange reserves will remain adequate, supported by stability and maintained economic prospects.

"Along with the policy mix response taken by Bank Indonesia in maintaining macroeconomic and financial system stability to support sustainable economic growth," he said.