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Indonesia forex reserves rise to $141 billion in February

Christian Fernsby |
Bank Indonesia recorded Indonesia's foreign exchange (forex) reserves at the end of February 2022 at $141.4 billion, which has increased compared to the end of January 2022 that amounted to $141.3 billion.

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Topics: INDONESIA   

"The increase in foreign exchange reserves in February 2022 was influenced, among other things, by the withdrawal of government foreign loans, as well as tax and service revenues," said bank Indonesia Head of the Communications Department Erwin Haryono in a written statement Tuesday, March 8.

The forex reserve is equivalent to financing 7.5 - 7.3 months of imports and servicing the government's foreign debt which is said to be above the international adequacy standard of 3 months of imports.