JAKARTA (Yosefardi) – Indonesia’s official reserve assets position as of end May 2015 stood at US$110.8 billion, slightly lower than the end of April 2015 level registered at US$110.9 billion, Bank Indonesia reported on Friday (June 5).
This development was attributable to increase in foreign exchange demand, among other for Government foreign debt payments and the use of foreign exchange to stabilize rupiah exchange rate in accordance with the fundamental.
Meanwhile, the foreign exchange receipts from the Government global sukuk issuance is able to withstand further declines.
With these developments, official reserve assets at the end of May 2015 can adequately cover 7.1 months of imports or 6.8 months of imports and servicing of Government external debt repayment, well above the international standards of reserves adequacy at 3 months of imports.
Bank Indonesia considers the burgeoning position of official reserve assets has positive impact on efforts to strengthen the resilience of the external sector and maintain the sustainability of Indonesian economic growth.