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Foreign Exchange Reserves Increased in December 2018

Jakarta, 09/01/2019 Ministry of Finance - Bank Indonesia (BI) released a number of foreign exchange reserves in December 2018 which increased compared to November 2018. Indonesia's foreign exchange reserves position at the end of December 2018 was USD120.7 billion while the end of November 2018 was USD117.2 billion. BI assessed that foreign exchange reserves can support the resilience of the external sector and maintain macroeconomic and financial system stability.
 
The value of foreign exchange reserves is equivalent to 6.7 months of financing imports or 6.5 months of imports and government foreign debt payments. In addition, the figure is above the international adequacy standard of around 3 months of imports.
 
Quoted from the BI website, the increase in foreign exchange reserves in December 2018 was influenced by foreign exchange oil and gas revenues, global bonds issuance and the withdrawal of government foreign loans. (nr/rsa)