Jakarta (ANTARA) - Bank Indonesia (BI) noted that the position of Indonesia's foreign exchange reserves at the end of October 2021 remained high, amounting to US$145.5 billion, albeit down from $146.9 billion at the end of September 2021.

Head of the BI Communications Department Erwin Haryono noted in a statement in Jakarta, Friday, that the foreign exchange reserves were equivalent to financing 8.5 months of imports or 8.3 months of imports and servicing the government's foreign debt.

In addition, Haryono remarked that the position of foreign exchange reserves is above the international adequacy standard of about 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 stated.

Erwin explained that the decline in the position of foreign exchange reserves in October 2021 was partly influenced by the payment of the government's foreign debt.

Looking ahead, BI views foreign exchange reserves to remain adequate, supported by stable economic prospects and maintained in line with various policy responses to promote economic recovery.

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Translator: Satyagraha, Azis Kurmala
Editor: Sri Haryati
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