Paying Debt, Indonesia's Foreign Exchange Reserves Drop To 145.1 Billion US Dollars In January

Foreign Exchange Reserves (Photo: Antara)

JAKARTA - Bank Indonesia (BI) recorded the position of Indonesia's foreign exchange reserves at the end of January 2024 remained high at 145.1 billion US dollars, although it decreased compared to the position at the end of December 2023 of 146.4 billion US dollars.

Assistant Governor of the Communications Department Erwin Haryono said that the decline in the position of foreign exchange reserves was influenced, among other things, by the maturity of the government's foreign debt payments.

"The position of foreign exchange reserves is equivalent to financing 6.6 months of imports or 6.4 months of imports and payment of government foreign debt, and is above the international adequacy standard of about 3 months of imports," he explained in his statement, Wednesday, February 7, 2024.

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

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