Ministry of Finance of Republic of Indonesia : Foreign Exchange Reserves Increased to USD105.9 at End of December 2015

Jakarta, 11/01/2016 MoF - Foreign exchange reserves at the end of December 2015 was recorded at USD105.9 billion, which rose significantly from its previous position at USD100.2 billion at the end of November 2015.

According to the Executive Director of Communication Department of Bank Indonesia (BI) Tirta Segara, the increase of foreign exchange reserves came from the government's foreign loan, revenue from oil and gas export, and the government's global bond issuance, which were sufficient to cover the foreign exchange needs. As known, foreign exchange reserves are aimed at repaying the government's foreign debt and stabilizing rupiah exchange rate according to its fundamental position.

With this progress, he continues, the position of foreign exchange reserves as per end of December 2015 could fund 7.7 months of import of 7.4 months of import and repay the government's foreign debt. This position was also above the international adequacy standard of around three months of import. 'Bank Indonesia considers this foreign exchange reserves to be able to support the external resilience and maintain sustainable economic growth of Indonesia in the future,' says him. (nv)