Official reserve assets reaches US$123.2 billion at the end of April 2017

Jakarta, InfoPublik - Bank Indonesia’s communications department executive director Tirta Segara said Indonesia's official reserve assets position at the end of April 2017 stood at US$123.2 billion, higher than the end of March 2017 registered at US$121.8 billion.

"The increase is mainly attributable by foreign exchange receipts, among others, from tax revenues and government oil and gas proceeds as well as auction of Bank Indonesia foreign exchange bills (SBBI)," Tirta said in a press release Thursday (5/11).

Foreign exchange receipts, he added, surpassed the foreign exchange need to repay government foreign debt and SBBI foreign currency maturity.

The reserve asset position at the end of April 2017 was enough to cover 8.9 months of imports or 8.6 months of imports and government external debt payment. It was also above international standard of reserves adequacy for about three months of imports.

"Bank Indonesia believes that the official reserve assets can support the external sector resilience and maintain the sustainability of Indonesia's economic growth in the future," he concluded. (Translator: Wilda Stiana)