Indonesia's foreign currency reserves increased to 112 billion USD in October from 111.2 billion USD in the previous month, according to Indonesia’s central bank BI.
The amount is sufficient to cover 6.6 months of imports or 6.4 months of imports and external debt payment by the Government.
BI Communication Department Director Peter Jacobs said that the reserves improved thanks to increases of government export receipts in the oil and gas sector and banks’ foreign currency deposits as well as BI interventions to stabilise the domestic currency.
The rise in forex reserves has positively affected the recovery ability of external sector and the country’s economic growth, which only reached a minimal rate of 5.1 percent in the 2014 third quarter, the lowest in the past five years.
Peter Jacobs added BI will keep close watch on the fluctuation of forex reserves and continue to buy in US dollar if necessary in a bid to protect the rupiah and ensure the national economy’s sustainable growth.-VNA
The amount is sufficient to cover 6.6 months of imports or 6.4 months of imports and external debt payment by the Government.
BI Communication Department Director Peter Jacobs said that the reserves improved thanks to increases of government export receipts in the oil and gas sector and banks’ foreign currency deposits as well as BI interventions to stabilise the domestic currency.
The rise in forex reserves has positively affected the recovery ability of external sector and the country’s economic growth, which only reached a minimal rate of 5.1 percent in the 2014 third quarter, the lowest in the past five years.
Peter Jacobs added BI will keep close watch on the fluctuation of forex reserves and continue to buy in US dollar if necessary in a bid to protect the rupiah and ensure the national economy’s sustainable growth.-VNA
