JAKARTA (Yosefardi) – Indonesia’s official reserve assets position as of end August 2015 stood at US$105.3 billion, lower than the end of July 2015 level registered at US$107.6 billion.
This development was attributable to increase in foreign exchange demand for Government foreign debt payments and the use of foreign exchange to stabilize rupiah exchange rate in accordance with the fundamental.
It is in line with Bank Indonesia’s commitment which has and will be in the market in order to stabilize the Rupiah to support macroeconomic and financial system stability.
On the other side, the increase in foreign exchange receipts derived from the issuance of Government’s Samurai Bonds is able to withstand a further decline.
With these developments, official reserve assets at the end of August 2015 can adequately cover 7.1 months of imports or 6.9 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 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.