BI: Official Reserve Assets for August 2022 Remain High at $132.2 Billion

- 08 September 2022 15:02 WIB
BI: May 2022 Foreign Exchange Reserves Remain High.
BI: May 2022 Foreign Exchange Reserves Remain High.

JAKARTADAILY.ID – Bank Indonesia (BI) notes that Indonesia's official reserve assets remain high at $132.2 billion as of end-August 2022, relatively stable compared with $132.2 billion as of end-July 2022.

“The development of official reserve assets in August 2022 was influenced, amongst others, by tax and services receipts, oil and gas foreign exchange receipts, and the need for Rupiah stabilization in line with persistently elevated global financial market uncertainty,” Said BI’s Head of Communication Department, Erwin Haryono in a press release on Wednesday, September 7, 2022.

Also read: Bank Indonesia Connects the QRIS Payment System to ASEAN Countries, Initial Tests Conducted in Thailand

The official reserve assets' position was equivalent to financing 6,1 months of imports or 6,0 months of imports and servicing the government's external debt, and well above the international adequacy standard of three months of imports.

Bank Indonesia considers the official reserve assets position ample to support external resilience and maintain macroeconomic and financial system stability.

Also read: Bank Indonesia: Central Java Economy Records 5.66 Percent Growth in the Second Quarter of 2022

Moving forward, Bank Indonesia views that the official reserve assets remain adequate, supported by the stability and solid domestic economic outlook, in line with the policy responses to maintain the macroeconomic and financial system stability and to support the national economic recovery process.

 

 

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Editor: Suksmajati Kumara

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