Home Forex Exchange Forex reserves up in June as recovery hoped to continue – Jakarta Post

Forex reserves up in June as recovery hoped to continue – Jakarta Post

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Indonesia’s foreign exchange reserves level was up last month, driven by foreign exchange receipts from the oil and gas sector, as well as an increase in the government’s foreign debt, Bank Indonesia (BI) announced on Friday. The foreign exchange reserves were up to US$123.8 billion in June from the $120.3 billion recorded in the previous month, which represented the largest monthly increase recorded since December 2017. The latest foreign exchange reserves level was enough to finance 7.1 months of imports or 6.8 months of imports and payment of the government’s short-term external loans, which was above the international adequacy standards of about three months of imports. BI Governor Perry Warjiyo said the increase of the foreign exchange reserves level in June signaled that Indonesia’s balance of payments position may continue to record a surplus in the second quarter thanks t…





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