Bank Indonesia: Foreign Exchange Reserves Reach 144 Billion US Dollars As Of The End Of February 2024

Illustration. (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) stated that Indonesia's foreign exchange reserves reached 144 billion US dollars at the end of February 2024, a decrease compared to the position at the end of January 2024 which amounted to 145.1 billion US dollars."The decline in the position of foreign exchange reserves was influenced, among others, by the payment of government foreign debt," said Head of the Communication Department Erwin Haryono in Jakarta, quoted from Antara, Thursday, March 7.Erwin said that the position of foreign exchange reserves was equivalent to financing 6.5 months of imports or 6.3 months of imports and payment of government foreign debt, as well as being above the international adequacy standard of about three months of imports.Bank Indonesia assessed that the foreign exchange reserves were able to support external sector resilience and maintain macroeconomic and financial system stability. In the future, Bank Indonesia views foreign exchange reserves to remain adequate, supported by stability and maintained economic prospects, in line with the synergy of policy mix responses pursued by BI and the government in maintaining macroeconomic and financial system stability to support sustainable economic growth. Previously, based on data from the Central Statistics Agency (BPS), Indonesia's trade balance surplus continued in January 2024 amounting to 2.02 billion US dollars, lower compared to the surplus in December 2023 amounting to 3.29 billion US dollars.

Surplus neraca perdagangan Januari 2024 yang berlanjut terutama bersumber dari surplus neraca perdagangan nonmigas.Neraca perdagangan nonmigas Januari 2024 mencatat surplus sebesar 3,32 miliar dolar AS, seiring dengan tetap kuatnya ekspor nonmigas yang mencapai 19,13 miliar dolar AS.Kinerja positif ekspor nonmigas tersebut didukung oleh kuatnya ekspor komoditas lemak dan minyak hewan/nabati, besi dan baja, serta alas kaki.