Indonesia’s foreign currency reserves nearing record: BI hinh anh 1(Illustrative image:
Jakarta (VNA) – The foreign currency reserves of Indonesia last month reached 131.7 billion USD, nearing the 131.9 record level in January 2018 and 2.5 billion USD higher than the figure of the end of last year, the Bank Indonesia (BI) reported on February 7.

It attributed the rise to the revenue from the issuance of international bonds and the export of oil and gas.

In a press release, spokesman Onny Widjanarko of the central bank affirmed that the current reserves are strong enough to support the resilience of the Indonesian economy against external factors and to maintain the stability of the financial system as well as the macro economy.

An economist of the bank Andry Asmoro predicted the reserves will reach 130-135 billion USD by the end of this year. However, risks from the weakening global growth as a result of trade wars and geopolitical uncertainties, including the acute respiratory disease caused by the novel coronavirus, will create difficulties for Indonesia’s exports.

Recently, the bank injected about 25 trillion rupiah (1.82 billion USD) into the financial market as investors tried to dump their assets for fear of the losses caused by the epidemic to the global economy. BI governor Perry Warjiyo on February 5 said the bank is buying government bonds to stabilise the market and improve liquidity./.