Bank Indonesia reported that the country’s foreign exchange reserves at the end of July increased by 1.6 billion USD to 111.4 billion USD (Photo: cekindo.com) 

Jakarta (VNA) – Bank Indonesia (BI) has reported that the country’s foreign exchange reserves at the end of July increased by 1.6 billion USD to 111.4 billion USD, up from 109.8 billion USD in June this year.

The Governor of the central bank, Agus Martowardojo, said the foreign exchange (forex) reserves until July 2016 remained in a good condition.

The reserves are sufficient to finance 8.5 months of imports. BI expects the forex reserves to help maintain the sustainability of economic growth in the country in the future.

Statistics Indonesia reported that the Southeast Asian economy grew faster than expected in Q2, 5.18 percent from a year before, thanks to stronger consumer spending in Ramadan – the Islamic month of fasting, and higher government expenditure.

This growth rate is faster than the 5-percent forecast issued earlier and the 4.92-percent expansion in Q1.-VNA