Foreign Exchange Reserves at Bank Indonesia Rise to $110.5 Billion in July
The central bank of Indonesia (Bank Indonesia) announced today (08/08) that the country’s foreign exchange reserves increased to USD $110.5 billion at the end of July 2014 (from USD $107.7 billion at the end of the previous month). Bank Indonesia said that the rising reserves were mainly due to receipts from the Euro bonds issued by the Indonesian government and foreign exchange earnings from oil and gas exports. In addition, buoyant foreign capital inflows also had a positive impact on the accumulation of the official reserve assets.
Tirta Segara, Executive Director at Bank Indonesia, said that that the reserve assets at the July month-end cover 6.4 months of imports or 6.2 months of imports and servicing of government external debt repayment, which is well above the international standards of reserves adequacy (at three months of imports).
Indonesia's Foreign Exchange Reserves 2008-2014:
¹ in billion US dollar
² at end July 2014
Source: Bank Indonesia