The position of the foreign exchange reserves is equivalent to financing 9.2 months of imports, or 8.8 months of imports and servicing the government's foreign debt, head of BI's communications department, Erwin Haryono, said in a statement issued in Jakarta on Wednesday.
"This position is also above the international adequacy standard of about three months of imports," he added.
The increase in the foreign exchange reserves position in June, 2021 was influenced, among other things, by the issuance of the government's global sukuk as well as tax and service revenues, he explained.
"Bank Indonesia considers the foreign exchange reserves to be able to support external sector resilience and maintain macroeconomic and financial system stability," Haryono said.
Going forward, BI expects foreign exchange reserves to remain adequate and become an important factor in the external resilience of the national economy, he added. (INE)
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Translator: Satyagraha, Azis Kurmala
Editor: Suharto
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