JAKARTA, April 8 (Xinhua) -- Indonesia's foreign exchange reserves stood at 148.2 billion U.S. dollars at the end of March, down from 151.9 billion dollars in the previous month, amid rising global financial market uncertainty, the country's central bank said Wednesday.
Ramdan Denny Prakoso, executive director of Bank Indonesia's Communication Department, said in a press release that the development was attributable to the issuance of government global bonds, as well as tax and services receipts, amid the government's external debt repayments and Bank Indonesia's Rupiah stabilization policy in response to heightened uncertainty in the global financial markets.
Despite the decline, the reserves remained high and were equivalent to about six months of imports, remaining above the international adequacy standard of around three months of imports.
Bank Indonesia said it considers the current level of reserve assets sufficient to bolster external sector resilience and to preserve macroeconomic and financial system stability. ■
