16 January 2022 (closed)
Jakarta Composite Index (6,693.40) +35.04 +0.53%
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%
Bank Indonesia's foreign exchange reserves have fallen by US $4 billion to US $108.8 in January from US $112.8 in December 2012. The current reserves translate to six months of imports and short-term government debt payments. Reasons behind the four percent decline are massive spending by Indonesia's Central Bank to support the weakening IDR rupiah in combination with overseas debt payments.
Of the major Asian economies, the Indonesian rupiah was one of the worst performing currencies in 2012, declining by 5.9 percent compared to the US dollar. This year, it has depreciated by 0.6 percent against the greenback. Concerns that negatively influence the rupiah are a widening trade deficit and slow foreign direct investment in the first month of 2013.
US Dollar (USD) to Indonesia Rupiah (IDR)| Source: Bank Indonesia