June foreign exchange reserves fell to 119.8 billion US dollars

KONTAN.CO.ID – JAKARTA. Bank Indonesia (BI) noted that the position of Indonesia's foreign exchange reserves at the end of June 2018 amounted to 119.8 billion US dollars, down 3.1 billion dollars compared to the end of May 2018, which amounted to $ 122.9 billion.

This decline is also more pronounced than last month, with a decrease of 2 billion US dollars compared to the end of April 2018, which amounted to 124.9 billion US dollars. BI Political Communication Department Director Agusman Zainal said the decline in foreign exchange reserves in June 2018 was mainly affected by the repayment of external debt and the stabilization of the rupiah exchange rate. "In the future, BI sees the foreign exchange reserves remain sufficient, supported by confidence in the stability and prospects of a stable domestic economy, as well as positive export results," he said. said Agusman in a statement released Friday by Kontan. 7).

He explained that the foreign exchange reserve position is equivalent to finance 7.2 months of imports or 6.9 months of imports and official foreign debt service, and is above international standards from about three months of imports.

"BI believes that foreign exchange reserves are able to support the resilience of the external sector and maintain macroeconomic stability and the financial system," he said.

BACKUP DEVISA