Indonesia's foreign exchange reserves rise for three consecutive months, reaching US$140.31 billion.

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Yogi Yulianto 16/03/2023 12:53 WIB

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The increase in foreign exchange reserves was impacted by the weakening of the Rupiah exchange rate, which averaged -0.92 percent month-on-month (mom) in February 2023.

Indonesia's Foreign Exchange Reserves as of February 2023

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Indonesia's foreign exchange reserves rise for three consecutive months, reaching US$140.31 billion.

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Indonesia's Foreign Exchange Reserves as of February 2023

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Bank Indonesia recorded an increase in Indonesia's foreign exchange reserves over the past three months, rising from US$137.2 billion to US$140.3 billion. This represents an increase of US$907.22 million compared to January 2023, which stood at US$139.4 billion.

However, the increase in foreign exchange reserves in December was significantly higher than in the previous month. Indonesia's current foreign exchange reserves are equivalent to 5.7 months of import financing and government foreign debt payments, and remain above the international adequacy standard of around 3 months of imports.

The increase in foreign exchange reserves was influenced by the weakening of the Rupiah exchange rate, which averaged -0.92 percent month-on-month (mom) in February 2023. Since the Federal Reserve (The Fed) raised its benchmark interest rate to 4.75 percent, the Rupiah exchange rate has consistently remained above Rp 15,000 per US dollar in February. On Thursday, March 16, 2023, the Rupiah closed at Rp 15,365 per US dollar.

"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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Indonesia's foreign exchange reserves rise for three consecutive months, reaching US$140.31 billion.

Indonesia's foreign exchange reserves rise for three consecutive months, reaching US$140.31 billion.

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Indonesia's foreign exchange reserves rise for three consecutive months, reaching US$140.31 billion.

Indonesia's foreign exchange reserves rise for three consecutive months, reaching US$140.31 billion.

Tags

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