The position of official reserve assets was equivalent to finance 7.5 months of imports or 7.2 months of imports and servicing government’s external debt, and well above the international adequacy standard of three months of imports, Executive Director of the BI Communication Department Junanto Herdiawan noted in a statement received in Jakarta on Friday.
BI believes that the position of official reserve assets was able to support external sector resilience and maintain macroeconomic and financial system stability.
The development of official reserve assets in November 2019 was mainly attributed to oil and gas foreign exchange receipts, other foreign exchange receipts, and government external debt payments.
Moving forward, BI views that the official reserve assets remain adequate, supported by stability and solid domestic economy’s prospects, he stated.
Related news: Foreign capital inflow reaches Rp220.9 trillion until November
Related news: BI projects inflation in November to touch 0.18 percent
Related news: BI cuts its outlook for loan growth to eight percent