DIGIVESTASI - Indonesia’s Foreign Exchange Reserves Reach USD 150.2 Billion by End of November 2024, Indonesia’s foreign exchange reserves stood at USD 150.2 billion at the end of November 2024, slightly down from USD 151.2 billion at the end of October 2024. Nevertheless, the reserves remain at a high and adequate level.

Executive Director of the Communication Department of Bank Indonesia (BI), Ramdan Denny Prakoso, stated that this position is equivalent to financing 6.5 months of imports or 6.3 months of imports and the government’s external debt payments. This far exceeds the international adequacy standard of around three months of imports.

“The decline was influenced by the government’s external debt payments,” Ramdan said in an official statement released on Friday (December 6, 2024).

External Resilience Remains Strong

Bank Indonesia assesses that the current foreign exchange reserves are sufficient to safeguard external sector resilience and support macroeconomic and financial system stability. Going forward, BI is optimistic that foreign exchange reserves will remain adequate to bolster the nation’s economic resilience.

According to Ramdan, the positive outlook for exports and a surplus in the capital and financial accounts are expected to sustain the foreign exchange reserves position. This is bolstered by investors’ positive perception of Indonesia’s economy and the appeal of domestic investment returns.

Collaboration with the Government

Ramdan added that Bank Indonesia will continue to strengthen collaboration with the government to ensure external sector resilience. This initiative aims to secure economic stability and foster sustainable growth.

“Bank Indonesia is committed to maintaining economic stability to support sustainable economic growth,” Ramdan concluded.

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