Indonesia`s forex reserves quite safe

Indonesia`s forex reserves quite safe

Indonesian rupiah. (ANTARA/Eric Ireng)

Indonesia`s foreign exchange reserves are enough to finance imports and foreign debt repayments for 5.8 months.
Jakarta (ANTARA News) - Indonesia`s foreign exchange reserves which reached US$105.1 billion at the end of May 2013 are quite safe as they are still above the international adequacy standard, a Bank Indonesia official said.

According to the standard, safe foreign exchange reserves are equal to three months of imports and foreign debt repayments, the central bank`s director of communication department Peter Jacobs said here on Thursday.

He said Indonesia`s foreign exchange reserves are enough to finance imports and foreign debt repayments for 5.8 months.

Bank Indonesia Governor Agus Martowardojo said earlier the country`s foreign exchange reserves fell to US$105 billion in May from US%107 billion in April as a result of the central bank`s monetary operations.
(Uu.S012/B003)

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