August 2020 Foreign Exchange Reserves Increase to US$137 Billion

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Dwi Hadya Jayani 07/09/2020 14:43 WIB

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As of August 2020, Indonesia's foreign exchange reserves were recorded at US$137 billion, up from US$135.1 billion at the end of July 2020.

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August 2020 Foreign Exchange Reserves Increase to US$137 Billion

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Indonesia's Foreign Exchange Reserves

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Indonesia's foreign exchange reserves hit a new record high. As of August 2020, reserves reached US$137 billion, up from US$135.1 billion at the end of July 2020. This increase is attributed to government foreign debt withdrawals, as well as tax revenue and oil and gas foreign exchange earnings.

Indonesia's foreign exchange reserves are equivalent to 9.4 months of import cover or 9 months of import and government foreign debt payments. Furthermore, this exceeds the international adequacy standard of approximately three months of import cover.

Editor : Aria W. Yudhistira

"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."