UOB Group’s Economist Enrico Tanuwidjaja and Haris Handy assessed the latest set of FX Reserves data in Indonesia. Key Quotes “Indonesia’s foreign exchange reserves stood at USD135.9bn as of end-December 2020, an increase from USD133.6bn in the previous month. The latest reserve level was equivalent to finance 10.2 months of imports or 9.8 months of imports and servicing government’s external debt. This is well above the international adequacy standard of around 3 months of imports. Bank Indonesia views that the official reserve assets position was able to support the external sector resilience and maintain macroeconomic and financial system stability.” “The increase of reserve assets in December 2020 was mainly attributable to government’s foreign loan withdrawal and tax receipts. Going forward, we might see a moderate build-up in FX reserves on the back of capital inflows, proceeds from exports, as well as other FX earnings, as global uncertainty slowly dissipate due to the vaccine as a game changer. Nevertheless, downside risks remain on the back of the ongoing uncertainty from COVID-19 development, which may result in capital outflows and slower FX earnings.” 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 BOE’s Bailey: Do not think covid will cause structural shift in the UK economy FX Street 11 months UOB Group’s Economist Enrico Tanuwidjaja and Haris Handy assessed the latest set of FX Reserves data in Indonesia. Key Quotes “Indonesia’s foreign exchange reserves stood at USD135.9bn as of end-December 2020, an increase from USD133.6bn in the previous month. The latest reserve level was equivalent to finance 10.2 months of imports or 9.8 months of imports and servicing government’s external debt. This is well above the international adequacy standard of around 3 months of imports. Bank Indonesia views that the official reserve assets position was able to support the external sector resilience and maintain macroeconomic and financial system stability.” “The… Top 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.
