VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Indonesia's foreign exchange reserves at the end of August 2020 amounted to US$137.0 billion, an increase compared to the position at the end of the previous month which was the US $135.1 billion.

The sum is equivalent to financing 9.4 months of imports or 9.0 months of imports of government external debt and is above the international adequacy standard (3 months of imports).

"The Central Bank of Indonesia (BI) considers that the foreign exchange reserves can support external sector resilience and maintaining macroeconomic and financial system stability," Onny Widjanarko, executive director of the Communication Department of BI said in a press release on Monday.

He explained the increase in foreign exchange reserves in August 2020 was influenced by the withdrawal of government foreign loans, tax revenues, and oil and gas foreign exchange.

In the future, BI sees that foreign exchange reserves will remain adequate, supported by stable and maintained economic prospects, along with various policy responses to promote economic recovery. (Antaranews)