Indonesia’s forex reserves hit 110.5 billion USD
Indonesia's foreign exchange (forex) reserves rose to 110.5 billion
USD by the end of July from 107.7 billion USD one month ago, according
to the central bank of Indonesia (BI).
Indonesia's foreign exchange (forex) reserves rose to 110.5 billion
USD by the end of July from 107.7 billion USD one month ago, according
to the central bank of Indonesia (BI).
This was the highest level of forex reserves since December 2012, mainly thanks to an increase of foreign capital inflows, the issuance of Euro government bonds and higher earnings from oil and gas exports, the bank said.
The amount of foreign reserves at the end of July is sufficient to cover 6.2 months of imports and foreign-debt payments, above the international sufficiency standard of three months.
The increased reserves is hoped to help Indonesia strengthen its resilience to any external instability, especially fluctuations in financial markets.
The BI announced that the country’s currency account deficit stood at 2.12 percent of GDP in the first quarter of this year. The rate is forecast to exceed 4 percent in the second quarter.
The bank sets to curb the currency account deficit at below 3 percent of the GDP this year.-VNA
This was the highest level of forex reserves since December 2012, mainly thanks to an increase of foreign capital inflows, the issuance of Euro government bonds and higher earnings from oil and gas exports, the bank said.
The amount of foreign reserves at the end of July is sufficient to cover 6.2 months of imports and foreign-debt payments, above the international sufficiency standard of three months.
The increased reserves is hoped to help Indonesia strengthen its resilience to any external instability, especially fluctuations in financial markets.
The BI announced that the country’s currency account deficit stood at 2.12 percent of GDP in the first quarter of this year. The rate is forecast to exceed 4 percent in the second quarter.
The bank sets to curb the currency account deficit at below 3 percent of the GDP this year.-VNA
You should also see
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
See more
World
Argentinian scholar praises Vietnam’s April 30, 1975 victory
The complete reunification of Vietnam on April 30, 1975 was an extremely significant event in the history of the country and the world, opined a scholar from the Institute for International Relations at the National University of La Plata, Argentina.
World
Malaysia tackles food security challenges
Empowering local communities in the agriculture sector to attract young people to this field is one of the measures taken by Malaysia to address labour shortage while also contributing to tackling challenges in food security.
World
Danger warning issued for Thailand’s Bangkok as extreme heat bites
Thai authorities on April 24 issued an extreme heat warning for Bangkok, urging people to stay indoors for their safety as temperatures soared.
World
Schools in Philippines go online amid extreme heat
Record heat in the Philippines in April has forced schools to send children home for online classes.
ASEAN
UK supports ASEAN’s economic integration
The UK delegation to ASEAN held a seminar in Jakarta, Indonesia on April 24 to discuss the ASEAN-UK economic integration programme.
