“BI feels that foreign exchange reserves are still able to support the resiliency of the external sector while maintaining macroeconomic and financial system stability,” BI spokesman Agusman said in the statement.
The latest figure is sufficient to finance 7.2 months of imports, or 6.9 months of imports if it includes the payment of the government’s external debts, still higher than international adequacy standards of around three months of imports, BI said.
Going forward, the central bank believes the foreign exchange reserves will be able to withstand external shocks, supported by the positive outlook of the domestic economy and a positive export performance.
