(MENAFN)According to the Indonesian central bank, Indonesia's foreign exchange reserves at the end of last month this year, made up USD137.1 billion, or faintly dropped compared to USD138.8 billion in February this year.
Head of the Communication Department of the central bank, Bank Indonesia, Erwin Haryono stated in a report on Wednesday, April 7, that the foreign exchange reserves are equal to funding 10.1 months of imports or 9.7 months of imports and servicing government foreign debts.
Haryono further stated that the position of foreign exchange reserves in March 2021 hit above the global sufficiency standard of around three months of imports.
The foreign exchange reserves are able of encouraging external sector flexibility and keeping macroeconomic and fiscal system stability, he added, stating that the drop in the position of foreign reserves was mostly influenced by the payment of government external debts.
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