The decline resulted from the use of foreign exchange reserves to repay the governments foreign debts and to stabilize the rupiahs exchange rate against foreign currencies, Executive Director of BIs Communication Department Tirta Segara stated here on Wednesday.
"The move is in line with BIs commitment to stay in the market to stabilize the rupiahs exchange rate according to its fundamentals to support the stability of macro economy and financial system," he affirmed.
He said the foreign exchange reserves for the year at the end of September 2015 were still adequate to finance imports for seven months or imports and government debt repayments for 6.8 months. The foreign exchange reserves were still above the international adequacy standard to finance imports for three months.
"BI is of the view that the foreign exchange reserves are still able to support the resilience of the external sector and maintain continued growth in the countrys economy in future," he remarked.
The foreign exchange reserves also declined US$2.3 billion to US$105.3 billion at the end of August from US$107.6 billion at the end of July this year. (*)
Editor: Heru Purwanto
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