JAKARTA. The central bank recorded Indonesia’s foreign exchange (forex) reserves topping US$111.2 billion in August, an increase from $110.5 billion in the previous month. Bank Indonesia (BI) communications department executive director Tirta Segara said the increase in forex reserves was primarily derived from proceeds from the government’s oil and gas exports, which exceeded its spending for overseas debt. The position of the forex reserves was sufficient to cover 6.5 months of imports or 6.3 months of imports and the government’s foreign debts — well above the standard international requirement of about three months of imports, according to Tirta.
Forex reserves swell to $111.2b in August
JAKARTA. The central bank recorded Indonesia’s foreign exchange (forex) reserves topping US$111.2 billion in August, an increase from $110.5 billion in the previous month. Bank Indonesia (BI) communications department executive director Tirta Segara said the increase in forex reserves was primarily derived from proceeds from the government’s oil and gas exports, which exceeded its spending for overseas debt. The position of the forex reserves was sufficient to cover 6.5 months of imports or 6.3 months of imports and the government’s foreign debts — well above the standard international requirement of about three months of imports, according to Tirta.