June 2019, Indonesia's Foreign Exchange Reserves Increased to US$123.8 Billion

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Dwi Hadya Jayani 08/07/2019 14:51 WIB

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The increase in foreign exchange reserves was influenced by receipts from the oil and gas sector, other foreign currencies, and government withdrawals of foreign debt.

Foreign Exchange Reserves Development January-June 2019

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June 2019, Indonesia's Foreign Exchange Reserves Increased to US$123.8 Billion

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Foreign Exchange Reserves Development January-June 2019

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Bank Indonesia (BI) recorded Indonesia's foreign exchange reserves at US$123.8 billion at the end of June 2019, an increase of US$3.5 billion compared to the previous month. This increase was the highest in 2019. In May 2019, Indonesia recorded a decrease in foreign exchange reserves of US$4 billion to US$120.3 billion from the previous month.

This increase in foreign exchange reserves was influenced by receipts from the oil and gas sector, and other foreign currencies. Furthermore, the government's withdrawal of foreign debt also contributed to the increase in foreign exchange reserves in June 2019.

The foreign exchange reserves were equivalent to 7.1 months of import financing or 6.8 months of import cover plus government foreign debt payments. This figure is also above the international adequacy standard of 3 months of import cover. BI assessed that the June 2019 foreign exchange reserves were sufficient to support the resilience of the external sector and maintain macroeconomic and financial system stability in Indonesia.

Editor : Nazmi Haddyat Tamara

"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."