Foreign Exchange Reserves Indonesia Grow in June 2016
The central bank of Indonesia (Bank Indonesia) announced today (14/07) that the nation's foreign exchange reserves rose by USD $6.2 billion to USD $109.8 billion in June 2016. The rise was supported by foreign exchange receipts, primarily from the issuance of government US dollar-denominated bonds, the auction of Bank Indonesia foreign exchange bills, tax revenues, oil & gas export earnings, as well as the withdrawal of foreign-denominated government loans.
Foreign exchange inflows originating from above-mentioned sources outweighed the use of foreign exchange for repayments of government external debt and maturing Bank Indonesia foreign exchange bills.
In a statement released on www.bi.go.id the central bank says the current reserve asset position (June 2016) adequately covers 8.4 months of imports or 8.1 months of imports and servicing of government foreign debt repayments. This is regarded as being well above the international standards of reserves adequacy at three months of imports. This means the reserves are sufficient to protect against external factors and maintain the sustainability of the Indonesian economy in the foreseeable future.
Foreign Exchange Reserve Indonesia 2008 - 2016:
| 2008 | 2009 |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | |
| Foreign Exchange Reserves¹ |
51.6 | 66.1 | 96.2 | 110.1 | 112.8 | 99.4 | 111.9 | 105.9 | 109.8² |
¹ in billion USD dollar at year-end
² per June 2016
Source: Bank Indonesia
Indonesia's June trade data is expected to be released on Friday (15/07) by the nation's statistics agency (BPS).
So far this year the Indonesian rupiah has appreciated 5.1 percent to IDR 13,088 per US dollar. Bank Indonesia's benchmark rupiah rate (Jakarta Interbank Spot Dollar Rate, abbreviated JISDOR) appreciated 0.05 percent on Thursday (14/07).
Indonesian Rupiah versus US Dollar (JISDOR):
| Source: Bank Indonesia