Enrico Tanuwidjaja, Economist and Haris Handy at UOB Group assessed the latest figures from the Indonesian foreign reserves. Key Quotes “Indonesia’s foreign exchange reserves increased by USD 3.4bn to USD 135.1bn in July 2020, the highest level ever, beating the previous record-high of USD 132bn in January 2018. The latest reserve level was equivalent to 9 months of import financing or 8.6 months of imports and payments of government external debt.” “The increase in July’s foreign exchange reserves was driven by the global bond issuance and government’s foreign loan withdrawal. The government has raised 100 billion yen (US$930 million) from the issuance of five-tranche samurai bonds to help cover the fiscal deficit and fund the coronavirus pandemic response in early July. Going forward, we might see a further moderate build-up in FX reserves on the back of capital inflows, proceeds from exports, as well as other FX earnings. In addition, better market conditions from three months ago will also reduce the need for BI to conduct market interventions.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ethereum Weekly Forecast: ETH/USD persistent bullish push yields breakout to two-year high FX Street 2 years Enrico Tanuwidjaja, Economist and Haris Handy at UOB Group assessed the latest figures from the Indonesian foreign reserves. Key Quotes “Indonesia’s foreign exchange reserves increased by USD 3.4bn to USD 135.1bn in July 2020, the highest level ever, beating the previous record-high of USD 132bn in January 2018. The latest reserve level was equivalent to 9 months of import financing or 8.6 months of imports and payments of government external debt.” “The increase in July’s foreign exchange reserves was driven by the global bond issuance and government’s foreign loan withdrawal. The government has raised 100 billion yen (US$930 million) from… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
