December 2024, Bank Indonesia's Foreign Exchange Reserves Reach All-Time High

Bank Indonesia (BI) reported foreign exchange reserves of US$155.7 billion in December 2024, an increase of US$5.5 billion or 3.6% from the previous month. This is the highest level ever recorded.

In its release, BI stated that the increase in foreign exchange reserves stemmed from tax and service receipts, government foreign loan withdrawals, and oil and gas foreign exchange receipts, amid a policy to stabilize the rupiah exchange rate in line with increasing global financial market uncertainty.

The foreign exchange reserves at the end of December 2024 were equivalent to 6.7 months of import cover or 6.5 months of import and government foreign debt payments. This is above the international adequacy standard of around 3 months of import cover.

“These foreign exchange reserves are sufficient to support the resilience of the external sector and maintain macroeconomic and financial system stability,” BI wrote in its release on Wednesday (8/1/2025).

BI views the foreign exchange reserves as adequate to support the resilience of the external sector going forward. Export prospects remain positive, and the capital and financial account balance is projected to remain in surplus.

Furthermore, BI continues to strengthen synergy with the government in strengthening external resilience to maintain economic stability in order to support sustainable economic growth.