Indonesia's Foreign Exchange Reserves Increase Slightly to US$137.3 Billion in July 2021

Bank Indonesia recorded Indonesia's foreign exchange reserves at US$137.3 billion at the end of July 2021. This figure represents a slight 0.14% increase compared to the previous month's US$137.1 billion.

Indonesia's foreign exchange reserves are equivalent to 8.9 months of import cover or 8.6 months of import and government foreign debt cover. Furthermore, this level of foreign exchange reserves exceeds the international adequacy standard of approximately 3 months of import cover.

The increase in foreign exchange reserves was partly influenced by the government's issuance of global bonds. Other contributing factors include tax and service revenue.

Bank Indonesia (BI) views the foreign exchange reserves as remaining adequate. Moreover, BI assesses that Indonesia's foreign exchange reserves are also supported by maintained economic stability and prospects, in line with various policy responses aimed at boosting economic recovery.

Throughout January–July 2021, Indonesia's foreign exchange reserves showed fluctuating trends. However, compared to the same period last year, the country's foreign exchange reserves increased by 1.6%.