Indonesia`s forex reserves up US$4 billion in December 2017: BI

05 January, 2018 | Source: Antara News

Indonesia`s foreign exchange reserves stood at US$130 billion as of December 31, 2017, up US$4.03 billion from US$125.97 billion a month earlier, according to Bank Indonesia (BI).

It stood at US$130 billion as of December 2017. We will disclose it in details later on," BI Governor Agus Martowardojo said at the Coordinating Ministry for Economic Affairs here on Thursday.

He refused to divulge the cause of the increase in foreign exchange reserves, adding that the central bank will release the foreign exchange reserves in details only on Jan 8.

The foreign exchange reserves reflect the rupiah`s exchange rate stability. Based on the Jakarta Interbank Spot Dollar Rate (Jisdor) throughout December 2017, the rupiah`s exchange rate was relatively stable at a range of Rp13,500 per dollar.

Based on its realization until December 21, 2017, the rupiah only depreciated 0.78 percent against the dollar.

With the rupiah depreciating less than 1 percent against the US dollar, the local currency`s exchange rate stability is relatively manageable as compared to a year earlier, Agus Martowardojo said.

He said the rupiah`s volatility rate in the year to mid December 2017 was less than 3 percent, which is about the same as that of the Malaysian ringgit and the Philippine peso which also declined last year.

 

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