Indonesia's Reserves at US$107.7 Billion in April 2016

Jakarta, InfoPublik -  Bank Indonesia (BI) Spokesman Arbonas Hutabarat stated that Indonesia's foreign exchange reserves at the end of April 2016 stood at US$ 107.7 billion, slightly increased from  US$ 107.5 billion in March. 

"The increase was due to the successful auction of Bank Indonesia foreign exchange bills (SBBI) along with other revenues," he said in Jakarta, Wednesday (11/5).

According to him, those revenues exceeded the use of foreign exchange in government foreign debt payments.

He added that the foreign exchange reserves at the end of April 2016 is sufficient to fund 8.1 months of imports or 7.8 months of imports and government foreign debt payments, exceeding  the international adequacy  standard of reserve for three months of import.

"Bank Indonesia believes the official reserves will able to support the resilience of the external sector and maintain the sustainability of  Indonesia’s economic growth  in the future," he concluded.(Translator: Sugiarti)