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Indonesia forex reserves rise in November to $117.2 billion

Staff Writer |
Indonesia booked forex reserves of 117.2 billion U.S. dollars in November, or two billion dollars higher than the previous month, according to the Indonesian central bank (BI).

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The November forex reserves were enough to cover 6.5 months of the nation's imports, or 6.3 months of the nation's imports plus foreign debt payment.

It makes Indonesia's forex reserves far above the international adequacy standard set at three months of import financing.

BI Communications Director Junanto Herdiawan said the November forex reserves were considered capable to support the nation's resilience from external pressures, stability of the nation's economy and financial system.

Indonesia's forex reserves reached 131.98 billion U.S. dollars early this year, which were higher than 130.20 billion dollars in December last year.

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