JAKARTA - The position of Indonesia's foreign exchange reserves at the end of March 2022 remained high at USD 139.1 billion, although it decreased compared to the position at the end of February 2022 of USD 141.4 billion. The decline in the position of foreign exchange reserves in March 2022 was influenced, among other things, by the need for payment of the Government's foreign debt.
This foreign exchange reserve position is equivalent to financing 7.2 months of imports or 7.0 months of imports and servicing government external debt, and is above the international adequacy standard of around 3 months of imports. Bank Indonesia views the foreign exchange reserves as capable of supporting external sector resilience and maintaining macroeconomic and financial system stability.
Looking 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)