Indonesia’s forex reserves increase to USD 137.2 billion by the end of the year

JAKARTA, Jan. 6 (Xinhua) — Indonesia’s foreign exchange reserves stood at $137.2 billion at the end of December 2022, up from $134 billion the previous month, according to Bank Indonesia on Friday.

“December’s increase in official reserves was supported, among other things, by taxes and services, as well as by the government’s withdrawal of foreign loans,” said Erwin Haryono, head of Bank Indonesia’s Communications Department.

Haryono added that this amount, which is above the international adequacy standard, is also equivalent to financing 6 months of imports, or 5.9 months of imports plus the repayment of the government’s external debt.

Bank Indonesia considered this figure sufficient to support the national economic recovery.