Indonesia’s forex reserves drop to 137.1 bln USD in March

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JAKARTA, April 7 (Xinhua) — Indonesia’s foreign exchange reserves at the end of March 2021 amounted to 137.1 billion U.S. dollars, or slightly decreased compared to 138.8 billion U.S. dollars in February 2021, according to the Indonesian central bank.

The foreign exchange reserves are equivalent to financing 10.1 months of imports or 9.7 months of imports and servicing government foreign debts, head of the Communication Department of the central bank, Bank Indonesia, Erwin Haryono said in a statement here Wednesday.

Haryono further said the position of foreign exchange reserves in March 2021 stood above the international adequacy standard of around three months of imports.

The foreign exchange reserves are capable of supporting external sector resilience and maintaining macroeconomic and financial system stability, he said, adding that the decline in the position of foreign reserves was mainly influenced by the payment of government external debts.

The central bank considers that foreign exchange reserves would remain adequate as they are supported by stability and a maintained economic prospects in line with various policy responses to promote economic recovery, he said. Enditem

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