Indonesia's foreign exchange reserves hit a record high at the end of September, the central bank said on Friday (06/10), attributing the increase to rising export proceeds and auctions of the bank's forex bills.(Reuters Photo/Rick WIlking)

Forex Reserves Hit Record $129.4b in September: Bank Indonesia

BY :NILUFAR RIZKI AND GAYATRI SUROYO

OCTOBER 06, 2017

Jakarta. Indonesia's foreign exchange reserves hit a record high at the end of September, the central bank said on Friday (06/10), attributing the increase to rising export proceeds and auctions of the bank's forex bills.

Bank Indonesia (BI) said Indonesia's reserves were $129.4 billion at the end of September, versus $128.8 billion at the end of the previous month, which had also been a record.

The rupiah had been relatively stable against the U.S. dollar for most of 2017, but at the end of September it fell to its weakest in 10 months as the greenback firmed.

BI had intervened in the currency market and would continue to do so to stabilise the currency, officials said.

Reuters

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