JAKARTA - Bank Indonesia (BI) recorded foreign exchange reserves at the end of October 2019 at US$ 126.7 billion, up from the position at the end of September of US$ 124.3 billion.
The amount is equivalent to the financing of 7.4 months of imports or 7.1 months of imports and payments of government foreign debt, and is above the international adequacy standard of about three months of imports.
"Bank Indonesia assesses that [Indonesia's] foreign exchange reserves are able to support the resilience of the external sector and maintain macroeconomic and financial system stability," BI wrote in an official statement, Thursday (7/11).
According to BI, the increase in foreign exchange reserves in October was mainly influenced by the issuance of government global bonds, foreign exchange revenue from oil and gas, and other foreign exchange revenues.
"Going forward, Bank Indonesia views foreign exchange reserves to remain adequate, supported by stability and a favorable economic outlook," BI added. (MS)