HomeNewsVideos

Indonesia’s forex reserves slopes in May 2021

08 June 2021 14:29

JAKARTA – The nation’s foreign exchange reserves position descends to USD 136.4 billion in May 2021 compared to April 2021, which reached USD 138.8 billion. However, this level is still deemed sufficient, scoring above the international adequacy standards for three months to fund import activities.

Erwin Haryono, the Executive Director and Head of Communication Department of Bank Indonesia (BI), claims that this decreased forex reserves result from the government’s foreign loan payment. “It is still enough to fund 9.5 months of import or 9.1 months of import along with foreign loan payment,” Haryono reveals in a press conference Tuesday (8/6).

According to Haryono, this forex reserve could sustain stability within the financial system, macroeconomy, and external sector adaptability. The forex reserves in May 2021 is the lowest number recorded in three months since March 2021 of USD 137.1 billion.

As of May 2021, BI recorded net foreign assets of USD 1.91 million, falling off from USD 1.97 million in April 2021. (LK/ZH)

© 2024 - IDN Financials - All Rights Reserved.