... now we have approximately 90 billion U.S. dollars, it shows a sign of growth."Jakarta (ANTARA News) - Central Bank (BI) said Indonesia still has 92.6 billion US dollars foreign exchange reserves, which will be enough to face the rupiah possible weakening against the US dollar and its impact.
"We have foreign exchange reserves that are now still in the range of 5.1 months of imports and foreign debt payments, and the amount is adequate," said the central bank`s governor Agus DW Martowardojo after the meeting with the House of Representatives Budget Committee on Wednesday.
Agus said that in 2005 and 2008 Indonesia has had a lower foreign exchange reserves from today`s reserve, it was only four months of imports and foreign debt payments.
"In 2009 we had 50 billion dollars (foreign exchange reserves), and now we have approximately 90 billion US dollars, it shows a sign of growth," said Agus.
In fact in 2011, the foreign exchange reserves had reached above 100 billion dollars figure.
"So the foreign exchange reserves are also in line with the capital inflow. If only in 2009-2013 big countries like the United States (The Fed) issued monetary stimulus policies it could create a flow of funds to all developing countries, including Indonesia," said Agus.
Agus said, when those funds enters Indonesia in the form of the government bonds and stocks purchase, then the central bank would conduct a sterilization effort to increase Indonesia`s foreign exchange reserves.
"But what happens today is the capital outflow due to the U.S. government plan to reduce monetary stimulus, which cause a decline in our foreign exchange reserves. So this is something normal but still under control and we are aware of it," said Agus.
(Reporting by Citro Atmoko/A050/INE/KR-BSR/B003)
Editor: Priyambodo RH
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