RI`S FOREX RESERVES DOWN US$400 MILLION IN JULY

Jakarta, 23 Shawwal 1436/ 8 August 2015 ( MINA) – Indonesia’s foreign exchange reserves fell by US$400 million in the end of July to US$107.6 billion compared with US$ 108 billion in June.

Increase in governments foreign debt servicing and spending to maintain rupiah stability caused the decline in the foreign exchange reserves,” Bank Indonesia Communications Department Executive Director Tirta Segara said here on Friday, Antara News quoted by Mi’raj Islamic News Agency (MINA) as reporting.

He said an increase in the foreign exchange income from the issuance of Euro Bond had been able to withhold a further decline.

The the amount of the foreign exchange reserves was still sufficient to finance 7.0 months of imports or 6.8 months of imports and payment of government foreign debt, he said, adding it was still well above the international adequacy ratio of three months of imports.

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The central bank said foreign exchange reserves could support external sector resilience and maintain sustainability of Indonesian economic growth in the future, he said.

At the end of June Indonesian foreign exchange reserves declined US$2.8 billion to US$108 from US$110.8 billion a month earlier. (T/P010/RO6)

Mi’raj Islamic News Agency (MINA)