Indonesia’s Foreign Exchange Reserves Reached US$ 107.5 Billion at End of March 2016

Jakarta, InfoPublik - Bank Indonesia’s Department of Communications Executive Director Tirta Segara stated Indonesia's foreign-exchange reserves on March 2016 is recorded at 107.5 billion US dollars, or higher than the final position in February 2016 at 104.5 billion US dollars.

"This increase is contributed by the reception of foreign reserves, particularly derived from the issuance of government’s global sukuk and Bank Indonesia Certificates (SBI) auction, which far exceeding the needs of foreign exchange, one of which for foreign debt payment" said Tirta in Jakarta, Wednesday (4/13).

According to him, foreign exchange reserves at the end of March 2016 are sufficient to finance 8 or 7.8 months of imports and government foreign debt payments.

In addition, he continued that Indonesia’s foreign exchange reserves are above international capital adequacy standards for approximately 3 months imports.

"Bank Indonesia believes that the foreign exchange reserves will be able to support the external sector resilience and maintain Indonesia’s sustainable economic growth in the future," he concluded. (Translator: Siti Chodijah)