Jakarta - Bank Indonesia noted that Indonesia's foreign exchange reserves at the end of April 2022 reached US$135.7 billion, down from the position at the end of March 2022 of US$139.1 billion.

"The decline in the position of foreign exchange reserves in April 2022 was influenced, among other things, by the need for payment of government foreign debt and the anticipation of the need for foreign exchange liquidity in line with increasing economic activity,"  said BI Executive Director Erwin Haryono in a statement in Jakarta on Friday (13/5).

He explained that this foreign exchange reserve position was equivalent to financing 6.9 months of imports or 6.7 months of imports and servicing government foreign debt and was above the international adequacy standard of around three months of imports.

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

"Going forward, BI views that foreign exchange reserves will remain adequate, supported by stability and maintained economic prospects, along with various policy responses to encourage economic recovery," he stressed.