Jakarta (Indonesia Window) – Indonesia’s central bank, Bank Indonesia (BI), noted that the country’s foreign exchange reserves at the end of December 2021 reached 144.9 billion U.S. dollars, or slightly decreased compared to 145.9 billion dollars at the end of November 2021.

"The decline in the position of foreign exchange reserves in December 2021 was influenced, among other things, by the government's foreign debt payment," Head of the BI’s Communications Department Erwin Haryono stated in an official statement here on Friday (Jan. 7).

He pointed out that the foreign exchange reserve position was equivalent to financing 8.0 months of imports or 7.8 months of imports and servicing the government's foreign debt, and was above the international adequacy standard of around three months of imports.

Bank Indonesia considered the foreign exchange reserves as capable of supporting external sector resilience as well as maintaining macroeconomic and financial system stability.

Bank Indonesia is confident that the foreign exchange reserves would remain adequate in the future, supported by stability and maintained economic prospects, along with various policy responses to boost economic recovery.

Reporting by Indonesia Window