The reserves are enough to meet pressure on the balance of payment, the central bank said.Jakarta (ANTARA News) - Indonesia`s foreign exchange reserves have been relatively stable until the end of August, standing at US$93 billion, up from US$92.7 billion in July, according to Bank Indonesia.
The reserves are sufficient for five months of imports and payment of government foreign debts but if they are compared to imports only they are equal to 5.2 months of imports, said the central bank in a press release received here on Friday.
It said the reserves are enough to meet pressure on the balance of payment.
It however said that continuing heavy pressure and global economic uncertainty would require good anticipatory measures through combination of policies and resilience to meet external upheavals including second line of defense.
In connection with that it said Bank Indonesia has signed the extension of its bilateral swap agreement with Bank of Japan as an agent of the Japanese finance ministry worth US$12 billion and effective as of August 31.
Talks on similar agreement are still being made with other central banks of the region, it said. (*)
Editor: Heru Purwanto
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