Bank Indonesia believes that the current foreign exchange reserve level is strong enough to support the country’s resilience to external factors and maintain macroeconomic and financial system stability
Jakarta (ANTARA) - Indonesia's foreign exchange reserves swelled to US$127.9 billion at April-end of 2020, from US$121 billion a month earlier, chiefly driven by the government's issuance of global bonds, according to Bank Indonesia (BI).

"Bank Indonesia believes that the current foreign exchange reserve level is strong enough to support the country’s resilience to external factors and maintain macroeconomic and financial system stability," Executive Director of BI’s Communication Department Onny Widjanarko noted in a press statement released on Friday.

The current foreign exchange reserves are equivalent to 7.8 months of imports or 7.5 months of imports and government foreign debt repayments and are above the international adequacy standard of three months of imports.

Looking ahead, BI is upbeat about sufficient foreign exchange reserves, fueled by stability and bright prospects of the domestic economy.

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Translator: Ahmad Buchori/Suharto
Editor: Sri Haryati
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