Indonesia’s foreign exchange reserves stood at 137.2 billion U.S. dollars, at the end of Dec, 2022, up from the previous month’s 134 billion dollars, according to Bank Indonesia, yesterday.

“The increase in official reserves assets in Dec was supported, among other things, by the tax and services, as well as, the government’s withdrawal of foreign loans,” said head of Bank Indonesia’s Communication Department, Erwin Haryono.

Haryono added that, this amount, which is above international adequacy standard, is also equal to funding six months’ worth of imports, or 5.9 months’ worth of imports plus the repayment of the government’s foreign debt.

Bank Indonesia considered this figure adequate to sustain national economic recovery.

Source: NAM NEWS NETWORK