Bank Indonesia (BI) booked foreign exchange (forex) reserves in December 2021 at USD 144.9 billion. This is USD 9 billion higher compared to its position at the end of 2020 at USD 135.9 billion, supported by potential surplus of balance of payments due to the upward trend of global commodity prices. Furthermore, the
December 2021 forex reserves position was influenced by payment of principal installments of domestic and foreign loans, amounting to IDR 1.33 trillion and IDR 73.6 trillion respectively. This figure is a cumulative figure for the 11-month period in 2021. NHKSI Research sees that the movement of forex reserves in 2022 will be influenced by the planned acceleration in tapering off by the Fed, and increases in the Fed Fund Rate.

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