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Foreign exchange reserves in February 2022 recorded at USD141.4 billion

09 March 2022 10:23

JAKARTA - The position of Indonesia's foreign exchange reserves at the end of February 2022 was recorded at USD141.4 billion, an increase compared to the position at the end of January 2022 of USD141.3 billion. The increase in the position of foreign exchange reserves in February 2022 was influenced, among other things, by the withdrawal of the Government's foreign loans as well as tax and service receipts.

The position of foreign exchange reserves is equivalent to financing 7.5 months of imports or 7.3 months of imports and servicing government external debt, and is above the international adequacy standard of around 3 months of imports.

Erwin Haryono, Executive Director of Bank Indonesia said, "Bank Indonesia views the foreign exchange reserves as capable of supporting external sector resilience and maintaining macroeconomic and financial system stability."

Going forward, Bank Indonesia views that foreign exchange reserves will remain adequate, supported by stability and maintained economic prospects, along with various policy responses to promote economic recovery. (LM)

 

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