At $124.3 billion, the September-end forex reserves stood above the international adequacy standard of three months of imports and was equal to 7.2 months of imports or seven months of imports and official external debt payments.
"Bank Indonesia assesses that foreign exchange reserves are able to support the resiliency of the external sector and maintain the stability of macroeconomic and financial systems," Director of the Communication Department of Bank Indonesia Junanto Herdiawan noted in a statement in Jakarta on Monday.
Herdiawan emphasized that the dip in forex reserves in September 2019 was chiefly influenced by the payment of government foreign debt and reduced placement of foreign exchange banking at Bank Indonesia.
Going forward, he affirmed that Bank Indonesia views foreign exchange reserves to remain adequate, bolstered by stability and a favorable economic outlook.
Translator: Achmad Buchori/ Azis Kurmala
Editor: Rahmad Nasution
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