Indonesia's forex reserve rises in October amid stable rupiah

Source: Xinhua| 2019-11-07 15:57:55|Editor: Shi Yinglun
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JAKARTA, Nov. 7 (Xinhua) -- Indonesia's foreign exchange reserve drifted up in October, partly due to the issuance of the government's global bond amid relatively stable rupiah value.

The Indonesian central bank (Bank Indonesia) on Thursday announced that its forex reserve came to 126.7 billion U.S. dollars in October, 2.4 billion U.S. dollars higher than that in presiding month.

The lender said the reserve was sufficient to finance 7.4 months of imports or 7.1 months of imports and government foreign debts. The figure exceeded the international threshold of three months of imports, the bank said in a statement.

The 1-billion-U.S. dollar and 1-billion-Euro debts were issued by the government in October to finance the deficit in the country's development budget.

The government's revenues in foreign exchanges were also factored to the hike in addition to the bond issuance, it said.

The relatively stable rupiah against the greenback in recent months has led the lender to conduct less intervention in the financial market.