Bank Indonesia Headquarters in Jakarta - Photo: Privacy

JAKARTA (TheInsiderStories) – Indonesia’s foreign exchange reserves the end of October 2018 stood at US$115.2 billion, higher than previous month at $114.8 billion, said Bank Indonesia today (07/11).

The foreign exchange (forex) reserve asset position was equivalent to financing of 6.4 months of imports or 6.2 months of imports and servicing of government external debt, and well above the international standard of reserve adequacy of 3 months of imports.

The Bank considers that the forex reserve position is able to support the external sector resilience and maintain macroeconomic and financial system sustainability.

It said, the increase in official reserve assets in October 2018 was mainly influenced by oil and gas foreign exchange revenues and withdrawal of government external debt which were surpassed the foreign exchange needs for government external debt repayments and rupiah stabilization.

Going forward, Bank Indonesia considers the official reserve assets remain adequate supported by confidence in stability and upbeat outlook of domestic economy as well as export performance that remains positive.

Written by Staff Editor, Email: theinsiderstories@gmail.com

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The Insider Stories Founder Linda Silaen has a solid, proven history, established over more than a decade as a journalist with a leading internasional news organization, of being the first with the biggest economic news stories in Indonesia. Specializing in corporate news, Linda is also a veteran of some of the biggest macroeconomic and general news stories as Indonesia rapidly transforms into a major market economy. One of the founders of the original blog from which this company developed, Linda’s knowledge of investors’ information communications and data us developed from unrivaled networking skills that make her a well-known name among CEOs, bankers, government officials and private equity investors both in Indonesia and other countries.

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