JAKARTA – Indonesia's foreign exchange reserves grew by 3.66% in December 2024 to USD 155.7 billion compared to USD 150.2 billion in November 2024.

Ramdan Denny Prakoso, Executive Director of Communication Department of Bank Indonesia (BI), explained that the increase in reserves was driven by tax and service revenue, government foreign loan withdrawals, as well as oil and gas income.

"The foreign exchange reserves as of December 2024 are equivalent to 6.7 months of imports or 6.5 months of imports and government foreign debt payments," Prakoso said on Thursday (January 9).

According to Prakoso, the foreign exchange reserves are well above the international adequacy standard of around 3 months of imports. Additionally, these reserves enhance the resilience of the external sector while maintaining macroeconomic and financial system stability.

BI will continue to strengthen collaboration with the government to bolster external resilience, ensuring stability in the economy and supporting sustainable economic growth. (LK/ZH)