Indonesia’s forex reserves hit record high in July
Indonesia’s foreign exchange (forex) reserves increased to 135.1 billion USD in July, the highest level ever, following the government’s move to issue global bonds, Bank Indonesia (BI) has announced.
A US dollar bill is pictured behind a face mask . (Photo: Reuters)
Jakarta (VNA)- Indonesia’s foreign exchange (forex) reserves increased to 135.1 billion USD inJuly, the highest level ever, following the government’s move to issue globalbonds, Bank Indonesia (BI) has announced.
BI said in a statementthat the foreign exchange reserves are adequate, supported by stability and apositive outlook for the economy, in line with various policy responses to pushfor economic recovery.
The rise in forexreserves in July was driven by the government’s global bonds issuance andgovernment loans, according to the central bank.
Specifically, the governmenthas raised 100 billion JPY (930 million USD) from the issuance of five-tranchesamurai bonds to help cover the fiscal deficit and fund the coronaviruspandemic response in early July.
The governmentpreviously planned to raise 5.5 billion USD from loans from multilateralorganisations in the second half of the year, after raising 1.8 billion USD inthe first half from five multilaterals, including the World Bank and the AsianDevelopment Bank (ADB)./.
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A US dollar bill is pictured behind a face mask . (Photo: Reuters) 
