Jakarta (Indonesia Window) – Indonesia’s central bank, Bank Indonesia (BI), has reported the position of Indonesia's foreign exchange reserves at the end of March 2022 at 139.1 billion US dollars, a decrease from 141.4 billion US dollars at the end of February 2022.

Chief Executive Director of BI’s Communications Department Erwin Haryono in an official statement in Jakarta, Thursday (Apr. 7), said the decline in foreign exchange reserves last month was influenced by, among other things, the need for payment of the government's foreign debt.

Despite the decline, he continued, the foreign exchange reserve position was equivalent to financing 7.2 months of imports or 7.0 months of imports and servicing government foreign debt, and was above the international adequacy standard of around three months of imports.

BI considers the foreign exchange reserves to be able to support the external sector resilience and maintain the macroeconomic and financial system stability.

The Indonesian central bank views that foreign exchange reserves remain adequate, supported by the stability and maintained economic prospects. This is in line with various policy responses to promote economic recovery.

Reporting by Indonesia Window