Indonesia's international reserves fell to their lowest level in two years in March, marking the third consecutive month of decline, to a total of $1.482 billion, after the central bank accelerated efforts to support the rupiah.
April 8, 2569 at 11.01:XNUMX, Bloomberg reported that Indonesia's international reserves fell for the third consecutive month in March, reaching their lowest level in nearly two years. Amid urgent interventions by Bank Indonesia to prop up the weakening rupiah,
Central Bank of Indonesia specify that Foreign exchange reserves fell by $3.7 billion to $148.2 billion, the lowest level since July 2024. This was due to the use of reserves to maintain currency stability and to pay off government foreign debt. As a result, reserves decreased by a total of $8.3 billion in the first three months of this year.
The rupiah depreciated by 1.3% last month as the war in the Middle East increased the cost of oil imports and fueled long-term concerns about the country's fiscal stability. The central bank, however, affirmed that maintaining exchange rate stability remains its top priority.
However, Indonesia's foreign exchange reserves remain strong, sufficient to cover imports and foreign debt obligations for up to 5.8 months, which is considered adequate to maintain stability in the country's external sector and financial system.
The rupiah rebounded to its strongest level in seven months on Wednesday, following a weakening of the dollar and news of a ceasefire between the US and Iran, which eased pressure on regional currencies.
refer : www.bloomberg.com
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