Jakarta –
Bank Indonesia (BI) reported a decline in foreign exchange reserves to US$ 132.2 billion in July 2022.
The Head of the Communications Department of Bank Indonesia, Erwin Haryono, admitted that the position of Indonesia’s foreign exchange reserves at the end of July 2022 remained high although it decreased compared to the position at the end of June 2022 of US $ 136.4 billion.
“The decline in the position of foreign exchange reserves in July 2022 was influenced, among other things, by the payment of the Government’s foreign debt and the need for stabilization of the Rupiah exchange rate in line with the high uncertainty in global financial markets,” he said in an official statement posted on the official BI website, Friday (5/5). 8/2022).
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The public need not worry because the foreign exchange reserve position is equivalent to financing 6.2 months of imports or 6.1 months of imports and servicing government foreign debt, and is above the international adequacy standard of about 3 months of imports.
“Bank Indonesia assesses foreign exchange reserves This will be able to support the resilience of the external sector and maintain macroeconomic and financial system stability,” he said.
Looking ahead, Bank Indonesia views foreign exchange reserves as adequate, supported by stable economic stability and prospects, along with various policy responses to maintain macroeconomic and financial system stability to support the national economic recovery process.
(dna/the)
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