Indonesia's Foreign Exchange Reserves February 2024 US$ 144.04 Billion
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Bank Indonesia recorded Indonesia's foreign exchange reserves as of early February 2024 at US$144.04 billion. This figure represents a decrease of US$1.0116 billion compared to the January 2024 foreign exchange reserves, which were recorded at US$145.05 billion.
Indonesia's current foreign exchange reserves are equivalent to 6.5 months of import financing and government foreign debt payments, and remain above the international adequacy standard of around 3 months of imports.
The decrease in foreign exchange reserves was impacted by the weakening of the Rupiah's average exchange rate in February 2024, which was recorded at 0.3 percent month-to-month (mom). The strengthening US dollar made the cost of stabilizing the Rupiah increasingly expensive, thus eroding BI's foreign exchange reserves.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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