REPUBLIKA.CO.ID, JAKARTA -- Indonesia's foreign exchange (forex) reserves increased from 102.6 billion USD per March 2014 to 105.6 billion USD per April 2014. Executive Director of Communication Department in Bank Indonesia (BI), Tirta Segara said the increase was supported by export earnings of government-owned oil and gas exporters.

"BI assessed a positive impact in the rise of forex reserves to strengthen the resilience of external sector and sustainable economic growth in Indonesia," Segara said recently.

April forex reserves could finance 6.1 months of imports or 5.9 months of imports and servicing external debt, which was well above the international standard of three months of imports. Bank Indonesia considers the increase in forex reserves a favorable impact of efforts to bolster external sector resilience and maintain sustainable economic growth in Indonesia.

BI is also optimistic that Indonesia can reduce the current account deficit below three percent of gross domestic product (GDP) this year. It was supported by a positive trade balance in March 2014.

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