Indonesia: FX reserves rose in February – UOB

Economist at UOB Group Enrico Tanuwidjaja comments on the latest release of FX reserves in Indonesia.

Key Takeaways

“Indonesia’s foreign exchange reserves increased to USD141.4bn in Feb 2022; up by USD0.1bn from the previous month.”

“The latest reserve level was equivalent to finance 7.5 months of import or 7.3 months of imports and servicing the government’s external debt. This is still well above the international adequacy standard of around 3 months of imports.”

“Bank Indonesia views that the official reserve assets will remain adequate, along with several accommodative policies to support long-term economic recovery.”