The United States dollar (US$) dominates Indonesia's external debt by currency. Of the total debt of US$ 323.8 billion, US$ 220.8 billion (68.2 percent) is denominated in the US dollar. Converted to Indonesian Rupiah (IDR), this amounts to Rp 2,869.9 trillion, using an exchange rate of Rp 13,000 per US$.
Indonesia's second largest external debt by currency is in Indonesian Rupiah, amounting to US$ 55.8 billion (17.3 percent) of the total debt, while the third largest is in Japanese Yen, at US$ 27.7 billion (8.5 percent). To mitigate risks from currency fluctuations, the government and the private sector are reducing their foreign currency debt by issuing rupiah-denominated debt instruments.
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