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According to Trading Economics data, the average of Indonesia’s Forex reserves from 2000 to 2019 was 74505.21 USD Million. (Image credit: FX Trading)
Bank Indonesia : Forex reserves increase up to US$ 123.8bn in June
A report from Bank Indonesia (BI) revealed that Indonesia’s foreign exchange (Forex) reserves jumped from US$120.3 billion in May 2019 to $123.8 billion at the end of last month.The good news was coming after previously in April 2019, the country official reserves assets reached US$ 124.4 billion in April, however in May it felt down to US$120.3 billion.
According to Indonesia’s central bank, the government’s foreign debt withdrawing was one of the factors of the achievement in June 2019.
In the previous month, the Finance Ministry has taken advantage of positive momentum created from an upgraded new rating from Standards & Poor – a U.S financial company- by issuing a $750 million obligation with a decade maturity and 750 million-euro ($846 million) obligation with a seven-year time period.
Another contribution was coming from oil and gas sector’s foreign exchange and other foreign exchange revenues, according to Onny Widjanarko, the central bank’s Executive Director Communication Department, on Friday, July 5, in a written statement.
Bank Indonesia told that the current forex reserves could pay for 7.1 months of imports or 6.8 months of imports in addition payment of the government’s foreign debt. It was reported that the amount of Indonesia’s official reserves asset is three months of imports, which is beyond the standard of international adequacy.
The central bank’s spokesman said Bank Indonesia confidence if the country’s forex reserves could preserve macroeconomic and the stability of Indonesia’s financial system as well as to reinforce resiliency of the external sector.
According to Trading Economics data, the average of Indonesia’s Forex reserves from 2000 to 2019 was 74505.21 USD Million. The highest record was in January 2018, reaching 131979.64 USD Million, while the lowest was in July 2000, with 27404.30 USD Million.
Source: https://en.antaranews.com/news/128403/indonesias-forex-reserve-swelled-to-us1238billion-in-june-bi
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