Indonesia’s foreign exchange reserves at the end of July grew slightly to 137.7 billion U.S. dollars from the previous month’s 137.5 billion dollars, according to the country’s central bank on Monday.
“The increase in the position of foreign exchange reserves was influenced, among other things, by tax and service revenues,” said Executive Director of the Communication Department of Bank Indonesia Erwin Haryono.
This figure exceeds the international sufficiency criterion of three months of imports and is comparable to financing six months of imports and paying off the government’s foreign debt, Haryono added.
Bank Indonesia views the foreign exchange reserves as sufficient to preserve the stability of the financial and macroeconomic systems for long-term economic growth, according to Haryono.
