Bank Indonesia stated that Indonesia's foreign exchange reserves at the end of January 2021 amounted to US$ 138.0 billion, an increase from the position at the end of December 2020, at US$ 135.9 billion.

The foreign exchange reserves position is equivalent to financing 10.5 months of imports or 10.0 months of imports and external government debt servicing. It is above the international adequacy standard of around three months of imports.

"Bank Indonesia assesses that the foreign exchange reserves are capable of supporting the resilience of the external sector and maintaining macroeconomic and financial system stability," said BI Executive Director Erwin Haryono in an official statement on Friday (5/2).

The issuance of global government bonds and tax revenues attributed to increasing foreign exchange reserves in January 2021.

"In the future, Bank Indonesia considers that foreign exchange reserves will remain adequate, supported by stability and maintained economic prospects, along with various policy responses to promote economic recovery," he said.