REPUBLIKA.CO.ID, JAKARTA -- Indonesia's foreign exchange reserves rose by US$200 million to US$107.7 billion by the end of April 2016, fueled by additional proceeds from the auction of Bank Indonesia certificates (SBBI) and revenues from other sectors, the central bank said.
The revenues until the end of April 2016 exceeded demand for foreign exchange which is mostly used to repay the government's foreign debts, director of Bank Indonesia's communication department, Arbonas Hutabarat, said here on Tuesday.
The foreign exchange reserves stood at US$107.5 billion as of late March 2016.
The US$107.7 billion foreign exchange reserves in April 2016 were enough to finance imports for 7.8 to 8.1 months and repay the government's current foreign debts, he said.
The foreign exchange reserves also exceed the international adequacy standards, or are equivalent to three-months of imports' value, he said.
Bank Indonesia believed the current foreign exchange reserves are also able to support the resilience of the external sector and maintain the trend of the country's economic growth, the central bank said.
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