The central bank of Indonesia (Bank Indonesia) announced on Friday (06/03) that the country’s official foreign exchange reserves stood at USD $115.5 billion at end-February 2015, up from USD $114.2 billion in the preceding month. The growth was primarily the consequence of improved oil & gas export revenues, and which exceed payments of the government’s external debts. The news caused positive sentiments on Indonesia’s markets and contributed to the record high closing of Jakarta Composite Index on Friday.
Bank Indonesia stated that the foreign exchange reserves at end-February 2015 can adequately cover seven months of imports or 6.8 months of imports and servicing of government external debt repayments, well above the international standard of reserve adequacy at three months of imports.
Indonesia's Foreign Exchange Reserves 2008-2015:
¹ in billion US dollar
² at end-February 2015
Source: Bank Indonesia