Head of the BI Communications Department Erwin Haryono stated in Jakarta on Tuesday that the current reserves level was estimated to be adequate to cover 9.5 months of imports or 9.1 months of imports and payments of the government's foreign debts.
Haryono noted that it was also still above the international reserve adequacy standard of around three months of imports.
"Bank Indonesia considers the foreign exchange reserves to be able to support external sector resilience and maintain macroeconomic and financial system stability," he affirmed.
Haryono attributed the decline in foreign exchange reserves in May 2021 to the government's foreign debt payments, among other factors.
Nevertheless, BI views foreign exchange reserves as being adequate, supported by stability and maintained economic prospects, in line with various policy responses to drive economic recovery.
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