JAKARTA. Indonesia's foreign exchange reserves in September 2022 fell by US1.4 billion to US$130.8 billion from the previous month of US$ 132.2 billion.
Head of the Communications Department of Bank Indonesia (BI) Erwin Haryono said the decline in foreign exchange reserves was due to the payment of the government's foreign debt. "The decline in foreign exchange reserves is also due to the need to stabilize the rupiah exchange rate in line with the high uncertainty in global financial markets," he said in a press release, Friday (7/10/2022).
Erwin said the foreign exchange reserve position was equivalent to financing 5.9 months of imports or 5.7 months of imports and servicing government foreign debt, and was above the international adequacy standard of around 3 months of imports.
e reserves are able to support the resilience of the external sector and maintain macroeconomic and financial system stability," said Erwin. Indonesia's foreign exchange reserves are also considered adequate, supported by stability and maintained economic prospects in line with various policy responses to maintain macroeconomic and financial system stability to support the national economic recovery process. (AM/LM)