Indonesia forex reserve up US$6.2 billion to US$109.8 billion

15 July, 2016 | Source: Antara News

Bank Indonesia reported that the countrys foreign exchange reserve rose US$6.2 billion in a month to US$109.8 billion by the end of June this year.

The central bank Governor Agus Martowardojo attributed the increase in the countrys foreign exchange reserve to sales of government bonds and loan received by the government.

Tax and oil and gas revenues also contributed to the rise in the foreign exchange reserve, Agus told lawmakers in a meeting here on Thursday.

Bank Indonesias Executive Director of Communication Tirta Segara said the foreign exchange reserve was enough to cover the countrys imports and installments of the governments debt for 8.1 months, or 8.4 months of imports alone.

"This is higher than the international adequacy standard of three month imports," Tirta said in a statement.

He said the reserves could strengthen resilience against external pressure and help sustain the countrys economic growth.(*)

 

 

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