JAKARTA - Indonesia's foreign exchange reserves were recored at US$133.7 billion in October 2020, slightly lower than US$135.2 billion in September. The drop was affected by the payment of government external debts.
According to Bank Indonesia Executive Director of Communications Onny Widjanarko, the foreign exchange reserves were equivalent to the financing of 9.7 months of import or 9.3 months of import and payment of government external debts. "The figures were above the international adequacy standard of three months of import," he said in a press release on Friday (6/11).
BI, he added, views that Indonesia's foreign exchange reserves are able to support external resilience and maintain macroeconomic and financial system stability. "Bank Indonesia considers the foreign exchange reserves to remain adequate, supported by economic stability and prospects and various policy responses to promote economic recovery," he said. (LK/MS)