JAKARTA – Indonesia’s foreign exchange (forex) reserves are spotted USD 2.1 billion higher in September 2021 than in August 2021, reaching USD 146.9 billion from USD 144.8 billion. Muhamad Nur, Group Head of Communication Department of Bank Indonesia (BI), informed the public in a press release, quoted Friday (8/10).
According to Nur, this gain is a result of several factors. They include tax and service income as well as the government’s foreign debt withdrawal. The reserves are deemed sufficient as the economic stability and prospect are quite steady. In addition, there are also policies to support economic recovery.
Nur believed that the forex reserves would be enough to fund imports for another 8.6 months and pay back foreign debts or solely support import activities for the next 8.9 months. “The forex reserves are above the international adequacy standard of 3-months import activities,” he reassured. (LK/ZH)