The Indonesian central bank, Bank Indonesia (BI) recorded the countrys foreign exchange reserves (forex) in April 2017 at US$123.2 billion.

According to BIs press release made available to ANTARA here on Monday, the amount of the April foreign exchange reserves are larger than the foreign exchange in March 2017 which stood at $121.9 billion.

Executive Director of BIs Communication Department Tirta Segara said the increase in the foreign exchange was influenced by the forex receipts.

“Forex receipts among others came from tax receipts and oil and gas exports and the yields of the auction of BIs promissory notes (SBBI),” the BI director said.

Segara revealed that the forex receipts exceeded forex needs for the payment of foreign loans and mature SBBI.

BI considered the foreign exchange reserves as of April 2017 were adequate for financing 8.9 months imports and the payment of the governments overseas debts.

The volume is above the international adequacy standard which is three month imports.

The BI also sees that the forex is able to support the resilience of the external sector and maintain the continuation of economic growth in Indonesia.

source: antaranews