Wahyu Dwi Anggoro
IDXChannel - Indonesia's foreign exchange (forex) reserves stood at USD139.3 billion at the end of May 2023.
According to Bank Indonesia (BI), it remained high despite retreating from USD144.2 billion at the end of April 2023.
'The decrease stemmed, amongst others, from the obligation of government external debt repayments and in anticipation of demand for foreign currency liquidity in the banking industry as economic activity continues to accelerate," BI Communication Department Executive Director Erwin Haryono said in a media release on Friday (9/6/2023).
The position of reserve assets is equivalent to 6.1 months of imports or 6.0 months of imports and servicing government's external debt.
It is well above the international adequacy standard of around three months of imports.
