Indonesia’s foreign exchange reserves stood to $107.7 Billion
JAKARTA (TheInsiderStories) – Indonesia’s foreign exchange reserves stood to US$107.7 billion at the end of April, up by 0.2 percent in April from $107.5 billion a month earlier, the central bank said in a statement released on May 10.
BI said, the state of foreign reserves at the end of April 2016 was adequate to pay 8.1 months of imports, or 7.8 months of imports and service the government’s foreign debt. The current foreign exchange reserve position sufficient to support Indonesia’s resilience against external factors, while maintaining a sustainable economic growth rate in the future.
“The increase was influenced by the reception of foreign reserves mainly from the proceeds of the auction Securities Bank Indonesia (SBBI) and other receipts. The revenues exceeded the needs of foreign exchange, which among other things is used for the payment of foreign debt,” BI Director Arbonas Hutabarat said.
He added, Bank Indonesia’s foreign exchange reserves are able to assess the resilience of the external sector to support and maintain the sustainability of economic growth in Indonesia in the future.
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Source: The Insiderstories
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