Indonesia's forex reserves down to 126 bln USD in November

Source: Xinhua| 2017-12-09 00:01:37|Editor: yan
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JAKARTA, Dec. 8 (Xinhua) -- Indonesia's November foreign currency reserves stood at 125.97 billion U.S. dollars, lower than 126.55 billion U.S. dollars recorded a month earlier, a statement released by Indonesian central bank (BI) said here on Friday.

Reduction of reserves in November was mainly caused by government's foreign debt payment and the authorities' efforts to stabilize national currency exchange rate against the U.S. dollar throughout last month, BI Communication Department Executive Director Agusman Zainal said in the statement.

The amount of November's reserves were enough to cover the nation's 8.4 months of imports, or 8.1 months of imports plus foreign debt payment, he said, adding that the figure was above the international adequate standard of three months imports.

"The central bank regards that the amount of reserves was capable to support the nation's resiliency to respond external pressures, preserve the nation's growth sustainability in the future," he said.

He added that the central bank would continue preserving the adequacy of the nation's reserves so as to support stability of the nation's macro economic and financial system.

So far the central bank's efforts were strongly supported by positive domestic economy condition, improving exports and favoring global financial market, he said.