Another Record Break, Bank Indonesia Says RI's Foreign Exchange Reserves Reached 146.9 Billion US Dollars

Illustration. (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) reported that the position of Indonesia's foreign exchange reserves (cadev) at the end of September 2021 was 146.9 billion US dollars.

Head of the BI Communications Department Group Head, Muhamad Nur, said that this number increased compared to the position at the end of August 2021 of US$144.8 billion.

"The increase in the position of foreign exchange reserves in September 2021, among others, is influenced by tax and service receipts as well as the withdrawal of the government's foreign debt," he said in a press statement, Thursday, October 7.

For information, the Cadev book last month was the largest in the history of Indonesia. This result also broke the previous record that occurred in August 2021.

"The position of foreign exchange reserves in September 2021 is equivalent to financing 8.9 months of imports or 8.6 months of imports and payment of government foreign debt, and is above the international adequacy standard of about 3 months of imports," Nur continued.

Furthermore, the monetary authority views that the condition of foreign exchange reserves is quite capable in dealing with situations that tend to be uncertain in the midst of a pandemic.

"Bank Indonesia considers the foreign exchange reserves to be able to support the resilience of the external sector and maintain macroeconomic and financial system stability," he stressed.

"Going forward, Bank Indonesia views foreign exchange reserves as adequate, supported by stability and maintained economic prospects, along with various policy responses to promote economic recovery," concluded Nur.