REPUBLIKA.CO.ID, JAKARTA -- By the end of December 2013, Indonesia's foreign exchange reserves recorded an increase of US$2.4 billion, from US$97 billion to US$99.4 billion.
On Wednesday, Bank Indonesia, the country's central bank, reported on its website that Indonesia's foreign exchange reserves are enough to finance imports for a period of 5.6 months or 5.4 months as well as the government's foreign debts. Moreover, this stable figure is above the international adequacy standard.
The bank stated that the accumulation in foreign exchange reserves can make the external sector more resilient.
According to the bank, the improvement was an intrinsic part of the bank's policy to lower the country's current account deficit to a healthier and sustainable level as well as its efforts to stabilize the country's rupiah exchange rate in accordance with its fundamental condition.
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