REPUBLIKA.CO.ID, JAKARTA -- Indonesia's foreign exchange (forex) reserves rise from 99,4 billion USD in December 2013 to 100.7 billion USD in January 2014 despite slowed down economic fundametal. Bank Indonesia (BI) communications department director Peter Jacobs said that the forex reserves could finance 5.7 months of imports or 5.6 months of government foreign debt payments.
"The reserves are strong enough to support the resilience of external sector and the sustainability of domestic economic growth in future," Jacobs said as reported by Elba Damhuri recently.
The forex reserves meet the international standards of three months of imports. Jacobs said that forex reserves were denominated assets owned by central bank for monetary policy. It will be used for the benefit of exports and import, stabilization of exchange rate and investment.
Forex reserves that have touched below 100 billion USD previously slowed down due to high current account deficit and the weakness of exchange rate against USD currency.
Ikuti Whatsapp Channel Republika
