Foreign Exchange Reserve Reaches 149.9 Billion US Dollars In September 2024

Illustration (Photo: Doc Antara)

JAKARTA - Bank Indonesia (BI) recorded the position of Indonesia's foreign exchange reserves at the end of September 2024 of 149.9 billion US dollars or lower than the position at the end of August 2024 of 150.2 billion US dollars.

Executive Director of the BI Communication Department, Ramdan Denny Prakoso, said that the development of foreign exchange reserves was influenced, among other things, by the payment of government foreign debt.

The position of foreign exchange reserves at the end of September 2024 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.

"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 said in his statement, Monday, October 7.

In the future, Ramdan said that Bank Indonesia views foreign exchange reserves as adequate so as to support the resilience of the external sector.

According to Ramdan, export prospects that remain positive, the balance of capital and financial transactions that are predicted to continue to record a surplus is in line with investor positive perceptions of the prospect of the national economy 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.