Bank Indonesia (BI) recorded the foreign exchange (forex) reserves for the August period at USD 144.8 billion, an increase of 5.5% from July at USD 137.3 billion. In more detail, BI also stated that this increase was mainly due to the additional allocation of Special Drawing Rights (SDR) of 4.46 billion SDR, or equivalent to USD 6.31 billion received by Indonesia from the International Monetary Fund (IMF). This SDR facility was obtained as Indonesia became one of the IMF member countries. Furthermore, the current forex reserves position is equivalent to financing 9.1 months of imports, or equivalent to 8.7 months of imports and servicing the government’s foreign debt.
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