Indonesia: FX reserves eased further in June – UOB – by pabspiovano Indonesia Banks
Economist at UOB Group Enrico Tanuwidjaja and Junior Economist Agus Santoso review the latest FX reserves figures in Indonesia.The latest reserve level was equivalent to financing 6.1 months of imports or 6 months’ worth of imports and servicing the government’s external debt, well above the international adequacy standard of 3 months of imports.
BI will increase the frequency and tenor of Foreign Currency Term Deposits with more competitive rates as an extra policy to anchor rupiah stability. Since its first auction in Mar, BI attracted more than USD1bn of TD DHE with total outstanding by around USD475.8mn in Jul. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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