JAKARTA (TheInsiderStories) – Indonesia’s official foreign exchange reserves have declined slightly to US$125.97 billion in November from $126.55 billion in October, Bank Indonesia said.
“The foreign exchange reserves in November are enough to fund 8.4 months of imports, which is higher than international standards of 3 months,” the central bank said.
The decline was due to the use of the reserves o repay foreign debt and efforts to stabilize the rupiah exchange rate. The decline was also due to lower foreign currency placement of banks at the central bank. (*)