Foreign Exchange Reserves Indonesia Continued to Drop in October
The central bank of Indonesia announced on Friday (06/11) that Indonesia's foreign exchange reserves have fallen by USD $1 billion to USD $100.7 billion at the end of October 2015. The decline was caused by foreign debt payments and efforts to stabilize the fragile rupiah (Indonesia's currency is sensitive to market expectations regarding looming higher US interest rates).
Bank Indonesia stated that the foreign exchange reserves at USD $100.7 billion at the end of October 2015 can adequately cover 7.1 months of imports or 6.6 months of imports and servicing of government external debt repayment, which is well above the international standard of reserves adequacy (at three months of imports).
Foreign Exchange Reserves Indonesia:
The rupiah has weakened nearly 9 percent against the US dollar in 2015. On Friday (06/11), Bank Indonesia's benchmark rupiah rate (Jakarta Interbank Spot Dollar Rate, abbreviated JISDOR) appreciated 0.39 percent to IDR 13,550 per US dollar on Friday (06/11).
Indonesian Rupiah versus US Dollar (JISDOR):
| Source: Bank Indonesia