NHKSI Research sees the government’s success in issuing RI0731 (Reopening) global bond with 10-year tenor and RI0961 (New Issuance) with 40-year tenor with a total of USD 1.25 billion, as one of the factors in the increase of September’s foreign exchange reserves. Forex reserves in September was booked at USD 146.9 billion, an increase of USD 2.1 billion, or grew 1.5% from August which was at USD 144.8 billion. Other than global bond, the government also issued Eurodenominated Sustainable Development Goals (SDG) Sovereign Debt Securities (SUN) amounting to EUR 500 million with a 12-year tenor. Meanwhile, forex reserves increase in September was also supported by tax revenues. Furthermore, the foreign exchange reserves is equivalent to financing 8.9 months of imports or 8.6 months of imports and servicing of government external debt.

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