Bank Indonesia (BI) noted that Indonesia's foreign exchange reserves in July 2021 reached US$137.3 billion.

Head of the BI Communications Department Erwin Haryono said this position increased from US$137.1 billion in June 2021. The issuance of global government bonds or global government bonds and tax and service receipts drove the increase in foreign exchange reserves.

"This foreign exchange reserve position is equivalent to financing 8.9 months of imports or 8.6 months of imports and financing the government's foreign debt," he said in a statement on Friday (6/8).

According to him, this position is above the international adequacy standard for about 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 explained.

Furthermore, BI views that foreign exchange