People walk on a pedestrian bridge at Sudirman street in Jakarta, Indonesia, on May 8, 2024. (Xinhua/Veri Sanovri)
JAKARTA, May 9 (Xinhua) — Indonesia’s foreign exchange reserves dropped to 136.2 billion U.S. dollars at the end of April from 140.4 billion dollars of the previous month, Bank Indonesia announced on Wednesday.
According to the director of the bank’s communications department, Fadjar Majardi, “The decline was influenced by several factors, including the government’s external debt payments and the need for rupiah stabilization in line with increasing global financial market uncertainty.”
This amount exceeds international adequacy standards of three months and is equal to funding 6.1 months of imports, or 6.0 months of imports plus payment of the government’s foreign debt.
Bank Indonesia sees that this amount will continue to be sufficient to ensure macroeconomic and financial system stability and foster long-term, sustainable economic growth. ■
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