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Indonesia's foreign reserves drop to 152.5 bln USD

JAKARTA, May 8 (Xinhua) -- Bank Indonesia announced on Thursday that the country's foreign currency reserves fell by 4.6 billion U.S. dollars to 152.5 billion dollars at the end of April, as the central bank intervened to stabilize the rupiah amid heightened global financial market risks.

"The decrease in reserves was influenced by the government's foreign debt payments and our exchange rate stabilization policy in response to rising global financial market volatility," said Ramdan Denny Prakoso, executive director of Bank Indonesia's communication department, in a press release.

Despite the drop, Prakoso emphasized that the current reserves remain robust, covering 6.4 months of imports, or 6.2 months of imports and foreign debt repayments, well above the international adequacy standard of three months.

"Bank Indonesia assesses that the foreign exchange reserves can support the resilience of the external sector and maintain macroeconomic and financial system stability," he added.