Jakarta. Indonesia's foreign exchange reserves inched up $1.4 billion in April due to increased tax revenues and proceeds from oil and gas exports, data from the central bank showed on Monday (08/05).
The reserves increased to $123.2 billion last month from $121.8 billion in March, due also to proceeds generated from auctions of foreign exchange bills by the country's central bank, Bank Indonesia, and increased foreign exchange receipts.
Tirta Segara, Bank Indonesia executive director, said the reserves are adequate to cover 8.9 months of the country's imports, though if combined with government-foreign debt repayments, those reserves would cover 8.6 months of imports.
"Bank Indonesia considers the official reserve assets as able to strengthen the resilience of the external sector and maintain the sustainability of Indonesian economic growth," Tirta said in a statement.