Foreign Exchange Reserves Indonesia Rise Slightly in April 2016
Indonesia's foreign exchange reserves rose slightly last month. According to the lastest data from the central bank of Indonesia (Bank Indonesia), the country's foreign exchange assets inched up to USD $107.7 billion in April 2016 from USD $107.5 billion in the preceding month. Bank Indonesia stated that the increase came on the back of foreign exchange receipts obtained through the recent sale of central bank certificates (SBBI). These proceeds exceeded foreign exchange needed for foreign debt payments, hence causing rising reserve assets.
According to Bank Indonesia, the nation's current foreign exchange asset position covers 8.1 months of imports or 7.8 months of imports and servicing government foreign debt, which is "well above the international standards of reserves adequacy at three months of imports". The central bank is confident that the current asset position supports the resilience of the external sector and maintain the sustainability of Indonesia's economic growth.
Foreign Exchange Reserves Indonesia:
