JAKARTA - From November 2020 to February 2021, foreign exchange reserves have continued to show a growth trend, which conditions support Indonesia's macroeconomic and financial resilience and stability. This was conveyed by Erwin Haryono, Executive Director, Head of the Communication Department of Bank Indonesia (BI) in a press release quoted on Friday (5/3).
He conveyed that foreign exchange reserves as of February 2021 grew to US$ 138.8 billion from US$ 138 billion in January 2021. Meanwhile, in November and December 2020, Indonesia's foreign exchange reserves were still at US$ 133.6 billion and US$ 135.9 billion. "Foreign exchange reserves in February 2021 are equivalent to financing 10.5 months of imports above the international adequacy standard of 3 months of imports," he said.
According to him, loan withdrawals and tax revenues helped boost the growth of foreign exchange reserves throughout February 2020. Economic stability and current economic prospects, he said, could still be supported by the position of foreign exchange reserves. (LK/LM)