BI: Foreign Reserves Increase To 135.9 Billion US Dollars, Partly Due To Foreign Currency Debt

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - Bank Indonesia (BI) revealed that there was an increase in foreign exchange reserves during December 2020 to 135.9 billion US dollars. This figure is an increase compared to the previous month's note which was known at 133.6 billion US dollars.

Executive Director and Head of the BI Communication Department Erwin Haryono said that the increase was largely influenced by the collection of loans from abroad and also revenue from the tax sector.

"The position of foreign exchange reserves is equivalent to financing 10.2 months of imports or 9.8 months of imports and servicing government foreign debt," he said in an official statement, Friday, January 8.

Erwin added that this situation made Indonesia's macroeconomic system in good condition, above the international adequacy standard of around 3 months of imports.

"Bank Indonesia assesses that the foreign exchange reserves are capable of supporting external sector resilience and maintaining macroeconomic and financial system stability," he said.

Going forward, continued Erwin, Bank Indonesia views that foreign exchange reserves will remain adequate, supported by stability and a maintained economic outlook, along with various policy responses to promote economic recovery.