Bank Indonesia (BI) announced Indonesia's foreign exchange reserves at the end of February 2021 at US$138.8 billion, up from the position at the end of January 2021, which was recorded at US$138 billion.

Head of the Communication Department of Bank Indonesia, Erwin Haryono, said that the position of foreign exchange reserves at the end of February 2021 was equivalent to financing 10.5 months of imports or 10.0 months of imports and government foreign debt payments and was above the international adequacy standard of around three months of imports.

"Bank Indonesia considers the foreign exchange reserves to be able to support the resilience of the external sector and maintain macroeconomic and financial system stability," he said in Jakarta on Friday (5/3).

The increase in foreign reserves position in February 2021 was mainly influenced by the withdrawal of government loans and tax revenues.

In the future, Bank Indonesia considers that foreign exchange reserves will remain adequate, supported by stability and a maintained economic outlook, in line with various policy responses to promote economic recovery.