Indonesia’s forex reserves climb to US$138.8 billion in April

Indonesia’s foreign exchange reserves rose to US$138.8 billion at the end of April 2021 as compared to US$137.1 billion a month earlier, according to Bank Indonesia (BI).

“The increase in foreign exchange reserves in April 2021 chiefly resulted from tax and service receipts and withdrawal of the government’s foreign loans,” Chief of the BI Communication Department Erwin Haryono stated here on Friday.

The foreign exchange reserves are equivalent to 10 months of imports or 9.6 months of imports and government foreign debt repayments, he remarked.

Haryono noted that the foreign exchange reserves were also above the international adequacy standard of three months of imports.

The central bank believed the foreign exchange reserves will be able to support resilience of the external sector and maintain macroeconomic and financial system stability.

The BI expressed hope that foreign exchange reserves will suffice in future, driven by manageable economic stability and prospects, along with favorable responses to the national economic recovery policy.

 

Source: Antara News

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