BI Records Indonesia's Foreign Exchange Reserves Reaching 155.7 Billion US Dollars As Of December 2024

Photo: Doc. Antara

JAKARTA - Bank Indonesia (BI) recorded the position of Indonesia's Foreign Exchange Reserve at the end of December 2024 of 155.7 billion US dollars, an increase compared to the position at the end of November 2024 of 150.2 billion US dollars.

"The increase in the position of foreign exchange reserves, among others, comes from tax and service receipts, withdrawal of government foreign loans, and receipt 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," said BI Communications Department Executive Director Ramdan Denny Prakoso in Jakarta, quoted by Antara, Wednesday, January 8.

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 about three 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.

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

The export prospects that remain positive as well as 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 synergies with the government in strengthening external resilience so that it can maintain economic stability in order to support sustainable economic growth.