JAKARTA. Bank Indonesia (BI) recorded Indonesia’s foreign exchange (forex) reserves arriving at USD 137.2 billion in December 2022, shifting USD 3.2 billion from USD 134 billion seen in November 2022.

In the press release today (6/1), Erwin Haryono, Executive Director and Head of Communication Department of BI, said that the increase in forex reserves in December 2022 was influenced by tax and service revenue, as well as government’s loan withdrawal.

Haryono also mentioned that this amount of forex reserves will be able to sustain the resilience of the external sector, as well as maintaining the stability of macroeconomy and financial system. Said amount of forex reserves is said to be equivalent to 6 months of import or 5.9 months of import plus government’s foreign debt payment. It also arrives way above the international adequacy standard of 3 months of import.

In the future, Haryono is also confident that Indonesia’s forex reserves will continue to suffice, supported by the stability and well-maintained economic prospects, as well as policies that will further expedite the national economic recovery. (AM/ZH)