Indonesia Has the Third-Largest Foreign Exchange Reserves in ASEAN

Indonesia had the third-largest foreign exchange reserves in ASEAN in 2022.

According to World Bank data, Indonesia's foreign exchange reserves in 2022 reached US$137.22 billion, or approximately Rp2,130.2 trillion (assuming an exchange rate of Rp15,524 per US$).

Singapore had the largest foreign exchange reserves in ASEAN, at US$296.63 billion in 2022.

Thailand ranked second with US$216.5 billion in foreign exchange reserves.

Malaysia, the Philippines, and Vietnam ranked fourth and below, with foreign exchange reserves of US$114.66 billion, US$96.04 billion, and US$86.54 billion, respectively.

Cambodia, Brunei Darussalam, and Laos followed with foreign exchange reserves of US$17.8 billion, US$5.03 billion, and US$1.22 billion, respectively.

Meanwhile, Timor Leste had the lowest foreign exchange reserves in the region, at only US$830.81 million, and data for Myanmar was unavailable from the World Bank.

According to Bank Indonesia data, Indonesia's foreign exchange reserves at the end of December 2023 reached US$146.4 billion.

This amount is equivalent to 6.7 months of import financing, or 6.5 months of import and government foreign debt payments.

Indonesia's foreign exchange reserves as of December 2023 were also above the international adequacy standard, with a minimum threshold of around 3 months of imports.