Indonesia Forex Reserve Up Us$6.2 Billion To Us$109.8 Billion

Jakarta (Antara Bali) - Bank Indonesia reported that the country's foreign exchange reserve rose US$6.2 billion in a month to US$109.8 billion by the end of June this year.

The central bank Governor Agus Martowardojo attributed the increase in the country's foreign exchange reserve to sales of government bonds and loan received by the government.

Tax  and oil and gas revenues also contributed to the rise in the foreign exchange reserve, Agus told lawmakers in a meeting here on Thursday.

Bank Indonesia's Executive Director of Communication Tirta Segara said the foreign exchange reserve  was enough to cover the country's  imports  and installments of the government's debt for 8.1 months, or 8.4 months of imports alone.            

"This is higher than the international adequacy standard of three month imports," Tirta said in a statement.

He said the reserves  could strengthen resilience against external pressure  and help sustain the country's economic growth. (WDY)