English Section

Indonesia’s foreign exchange reserves rose to USD150.2 billion in August 2024

Jakarta – Bank Indonesia (BI) reported that Indonesia’s foreign exchange reserves increased by USD4.8 billion. As of the end of August 2024, foreign exchange reserves were recorded at USD150.2 billion, an increase compared to the position at the end of July 2024 which amounted to USD145.4 billion.

BI Assistant Governor Erwin Haryono said that the increase in the position of foreign exchange reserves was influenced, among others, by tax and service revenues, oil and gas foreign exchange receipts, and the withdrawal of government foreign loans.

Read also: Palm Oil Industry Contributes USD9.78 Billion in Foreign Exchange Up to May 2024

“The position of foreign exchange reserves at the end of August 2024 is equivalent to financing 6.7 months of imports or 6.5 months of imports and servicing of government external debt, and is above the international adequacy standard of around 3 months of imports,” Erwin said in an official statement, Friday, September 6, 2024.

Furthermore, BI considers that foreign exchange reserves are able to support external sector resilience and maintain macroeconomic and financial system stability.

Going forward, BI views that foreign exchange reserves are adequate so that they can continue to support external sector resilience. The export outlook remains positive and the balance of capital and financial transactions is predicted to continue to record a surplus.

Read also: Hajj contributes IDR114 trillion in foreign exchange, Airlangga asks Saudi Arabia to invest more in Indonesia

“In line with investors’ positive perceptions of the prospects for the national economy and attractive investment returns, supporting the maintenance of external resilience,” he explained.

BI also continues to strengthen synergies with the government in strengthening external resilience so as to maintain economic stability in order to support sustainable economic growth. (*)

Galih Pratama

Recent Posts

Tabungan Jadi Prioritas atau Gaya Hidup? Simak Pandangan UOB Indonesia

Jakarta - UOB Indonesia memandang pentingnya literasi keuangan untuk membantu masyarakat memahami dan mengelola keuangan pribadi… Read More

4 hours ago

OJK Tegaskan Penghapusan Utang Kredit UMKM Tak Perlu Aturan Turunan

Jakarta - Otoritas Jasa Keuangan (OJK) menegaskan bahwa penghapusan utang kredit usaha mikro, kecil, dan… Read More

6 hours ago

Strategi UNTD Hadapi Persaingan Motor Listrik di Tengah Pelemahan Daya Beli Masyarakat

Tangerang - PT Terang Dunia Internusa Tbk, menyiapkan sejumlah strategi khusus menghadapi pelemahan daya beli… Read More

7 hours ago

Gara-gara Kasus Investree, OJK Tegas Bakal Lakukan Ini ke Industri Fintech Lending

Jakarta - Kasus yang menimpa PT Investree Radhika Jaya atau Investree menyita perhatian masyarakat, dianggap… Read More

8 hours ago

Era Open Banking, OJK Wanti-wanti 3 Tantangan Ini ke Industri Perbankan

Jakarta - Istilah open banking mengacu kepada aksesibilitas data yang semakin terbuka, memungkinkan bank untuk… Read More

8 hours ago

Gelar Indonesia Knowledge Forum 2024, BCA Dorong Penguatan Sektor Bisnis

Jakarta - PT Bank Central Asia Tbk (BCA) menggelar Indonesia Knowledge Forum (IKF) 2024, di… Read More

8 hours ago