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Jakarta Post

RI's foreign exchange reserves close to all-time high in January

  • Adrian Wail Akhlas

    The Jakarta Post

Jakarta   /   Sat, February 8 2020   /  01:39 am

The country’s foreign exchange (forex) reserves rose to near record-high levels in January at US$131.7 billion owing to foreign inflows from global bonds issuances and the oil and gas sector, Bank Indonesia (BI) announced Friday.The current reserves level is close to the record-high of $131.9 billion booked in January 2018. It indicates a $2.5 billion increase from the previous month and is enough to support 7.8 months of imports and 7.5 months of imports and payments of the government’s short-term debt. It was above the international adequacy standards of about three months of imports.The central bank deemed the current reserve level “strong enough” to support the country’s resilience to external factors, as well as to maintain macroeconomic and financial system stability, BI spokesman Onny Widjanarko said in a press statement.“BI is of the view that foreign exchange reserve...