Indonesia`s forex reserves US$700 million lower

Increase in government`s foreign debt servicing ..."

Jakarta (ANTARA News) - Indonesias foreign exchange reserves fell to US$110.9 billion by the end of April 2015, or US$700 million lower than a month earlier.

"Increase in governments foreign debt servicing and spending to maintain rupiah stability caused the decline in the foreign exchange reserves," Communications Department Director of Bank Indonesia Peter Jacobs said here on Friday.

However, the position of the foreign exchange reserves is still enough to cover imports for 6.9 months or 6.7 months to finance imports and pay debt installments, Peter said, adding "it is till well above the international adequacy ratio of 3 months imports.

"Bank Indonesia said the foreign exchange reserves could sustain external sector and maintain sustainability of the countrys economic growth," he said.

By the end of March the countrys foreign exchange reserves declined US$3.9 billion from US$115.5 bill;ion by the end of February to US$111.6 billion.
(Uu.H-ASG/H-YH)

Editor: Priyambodo RH
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