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Jakarta Post

Forex reserves decline by $200 million in April

  • News Desk

    The Jakarta Post

Jakarta   /   Wed, May 8, 2019   /   02:17 pm
Forex reserves decline by $200 million in April The Bank Indonesia (BI) logo. (Shutterstock.com/Harismoyo )

Bank Indonesia has announced that foreign exchange reserves declined by US$200 million in April to $124.3 billion from the previous month. It was the first decline since January.

BI spokesman Onny Widjanarko said on Wednesday the decline was due to foreign debt payments. However, he said foreign exchange reserves were still safe, equal to 6.8 months of imports and foreign debt payments.

“It is still above the international standard of three months,” Onny said as quoted by Antara news agency.

He stressed foreign exchange reserves could still support the country’s market resilience from external pressures as well as guard macroeconomic and financial system stability.

Onny also expressed confidence about the prospects and stability of the domestic economy.

Bank Indonesia data shows that the April decline was the first since January. Foreign exchange reserves were recorded at $120.1 billion in January, $123.3 billion in February and $124.5 billion in March. (bbn)