Foreign exchange reserves in Indonesia dropped to USD 140.4 billion in March 2024 from USD 144 billion in the previous month, pointing to the smallest
Foreign exchange reserves in Indonesia dropped to USD 140.4 billion in March 2024 from USD 144 billion in the previous month, pointing to the smallest amount since last November, reflecting the government’s external debt repayments, anticipation of corporate liquidity needs, and efforts to Rupiah stabilization.
The latest figures were equivalent to 6.2 months of imports and servicing the debt.
Bank of Indonesia said that forex reserves in the upcoming months would remain ample, supported by a sustained economic growth outlook and mixed policy responses between the central bank and the government.
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