Foreign Exchange Reserves Indonesia Fall to $102 Billion in January
The central bank of Indonesia (Bank Indonesia) announced on Friday (05/02) that Indonesia's foreign exchange reserves declined USD $3.8 billion to USD $102.1 billion at the end of January 2016. This fall was caused by government (foreign) debt settlements as well as interest payments over global bonds. The central bank emphasized that the country's foreign exchange reserves are still at a safe level as they can adequately cover 7.5 months of imports or 7.2 months of imports and servicing of government external debt repayment, well above the global reserve standard at three months of imports.
Meanwhile, the Indonesian rupiah has been one of the best-performing emerging market currencies in Asia, appreciating 1.2 percent against the US dollar so far this year on the back of inflows into the nation's bond and stock market.
Foreign Exchange Reserves Indonesia:
