JAKARTA, April 5 (Xinhua) -- Indonesia's foreign exchange reserves ended March 2024 at 140.4 billion U.S. dollars, a decrease from 144.0 billion dollars the previous month, the country's central bank announced on Friday.
"The decrease in foreign exchange reserve position was impacted by government debt repayment, company foreign exchange liquidity demands, and rupiah exchange rate stabilization in light of the ongoing high level of uncertainty in global financial markets," said the head of the Bank Indonesia Communications Department, Erwin Haryono.
This amount, Haryono continued, is sufficient to support the external sector's resilience and preserve the stability of the macroeconomic and financial systems.
It is also equivalent to paying for 6.2 months' worth of imports and servicing the government's foreign debt, which is above international adequacy standards.
Bank Indonesia believes that stable conditions and sufficient foreign exchange reserves will sustain the country's economic prospects and allow for long-term, sustainable growth. ■
