"The position of foreign exchange reserves is equivalent to financing 7.7 months of imports or 7.4 months of imports and payment of government foreign debt, and is above the international adequacy standard of about three months of imports," Executive Director of the Department of Communication of Bank Indonesia (BI) Onny Widjanarko noted in a press release here on Friday.
BI considered the foreign exchange reserves to be able to support external sector resilience and maintain macroeconomic and financial system stability.
The decline in foreign exchange reserves in February 2020 was partially influenced by the payment of government foreign debt.
BI expects foreign exchange reserves to remain adequate later, supported by stability and a favorable economic outlook.
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