Indonesia’s Forex Reserves Grows to US$137.1bn in June

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TOPNEWS.MY.ID, Jakarta – Bank Indonesia noted that foreign exchange (forex) reserves in June 2021 rose to US$137.1 billion. The central bank’s governor, Perry Warjiyo, said the position is quite high.

“Foreign exchange reserves are far above the adequacy standard of around three months of imports,” Perry said at a press conference, Thursday, July 22.

The amount of forex reserves can cover 9.2 months of imports or 8.8 months of imports plus government foreign debt payment.

This forex reserves in June was higher than the US$136.4 billion at the end of May, but down when compared to April’s US$138.8 billion.

BI also noted that as of July 21, the rupiah exchange rate was corrected by 0.29 percent. Compared to the end of June, the rupiah depreciation stood at 3.39 percent year to date.

“This is relatively lower than the depreciation other developing currencies are experiencing, such as the Philippines, Malaysia, and Thailand,” said Perry.

Read: Foreign Exchange Reserves Down Due to Foreign Debt Payment: Bank Indonesia

Francisca Christy Rosana

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