On Wednesday, Bank Indonesia, the countrys central bank, reported on its website that Indonesias foreign exchange reserves are enough to finance imports for a period of 5.6 months or 5.4 months as well as the governments foreign debts. Moreover, this stable figure is above the international adequacy standard.
The bank stated that the accumulation in foreign exchange reserves can make the external sector more resilient.
According to the bank, the improvement was an intrinsic part of the banks policy to lower the countrys current account deficit to a healthier and sustainable level as well as its efforts to stabilize the countrys rupiah exchange rate in accordance with its fundamental condition. (*)
Editor: Heru Purwanto
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