Indonesia's Foreign Exchange Reserves Rise in February 2017
Bank Indonesia, the central bank of Indonesia, announced that the nation's foreign exchange reserves had grown to USD 119.9 billion at end-February 2017, up from USD $116.9 billion in the preceding month (and the third straight month of growth). The increase was primarily attributed to foreign exchange receipts, which includes tax revenues and the government's oil & gas export proceeds. The rise was also possible on the back of the withdrawal of government foreign loans as well as the auction of Bank Indonesia foreign exchange bills (SBBI).