Indonesia's forex reserves hit record peak at end-August

September 07, 2020, 12.04 PM | Source: Reuters

ILUSTRASI. Petugas menata tumpukan uang rupiah dan dolar Amerika di Cash Center Bank Mandiri, Jakarta, Rabu (7/3). Bank Indonesia menyatakan cadangan devisa Indonesia pada akhir Februari 2018 menurun 3,92 miliar dolar Amerika menjadi 128,06 miliar dolar Amerika diba

MACROECONOMICS - JAKARTA. Indonesia's foreign exchange reserves rose by $1.9 billion in August to $137 billion, a record high, mainly due to government foreign borrowing, tax collection, and proceeds from oil and gas, the central bank said on Monday.

August's reserve level would allow paying for 9.4 months of imports, Bank Indonesia (BI) said in a statement.

The end-August 2020 amount was a record high, surpassing the previous record $135.1 billion reserves in July 2020.