Jakarta - Bank Indonesia reported the position of Indonesia's foreign exchange reserves at the end of August 2021 reached US$144.8 billion, growing compared to July this year at US$137.3 billion.

"The position of foreign exchange reserves is equivalent to financing 9.1 months of imports or 8.7 months of imports and servicing the government's foreign debt, and is above the international adequacy standard of about 3 months of imports," said Bank Indonesia (BI) Executive Director Erwin Haryono in an official statement, Tuesday (7/9).

Bank Indonesia views the foreign exchange reserves as capable of supporting external sector resilience and maintaining macroeconomic and financial system stability.

The increase in foreign exchange reserves in August 2021 was mainly due to the additional allocation of Special Drawing Rights (SDR) [1] of 4.46 billion SDR or equivalent to US$6.31 billion that was received by Indonesia from the IMF.