Indonesia’s forex reserves increase to 137.1 bln USD in June

Indonesia's forex reverses increase to 137.1 bln USD in June — Indonesia’s foreign exchange reverses increased slightly to 137.1 billion U.S. dollars in June following the issuance of the Government Global Sukuk (Islamic financial certificate), as well as tax and services receipts. (Pepi Stojanovski on Unsplash)

8 July 2021

Jakarta (Indonesia Window) – Indonesia’s foreign exchange reserves increased slightly to 137.1 billion U.S. dollars in June following the issuance of the Government Global Sukuk (Islamic financial certificate), as well as tax and services receipts, Executive Director of the Communication Department of central bank Bank Indonesia Erwin Haryono said in a press statement on Wednesday (July 7).

In May, Indonesia’s foreign exchange reserves were recorded at 136.4 billion U.S. dollars.

The amount of foreign exchange reserves in June was equivalent to financing 9.2 months of imports, or 8.8 months of imports and servicing government external debt, and was above the international adequacy standard of about 3 months of imports.

“Bank Indonesia assesses that foreign exchange reserves are able to support the external sector resilience and maintain the macroeconomic and financial system stability,” Erwin said.

Reporting by Indonesia Window