Indonesia’s forex reserves down $1.7 billion in March

08-Apr-2021 Intellasia | Reuters | 5:02 AM Print This Post

Indonesia’s foreign exchange reserves fell by $1.7 billion in March as the central bank defended the rupiah currency amid capital outflows triggered by rising US Treasury yields, data by the central bank showed on Wednesday.

The end-March reserve level of $137.1 billion “remained high” and could cover the cost of 10.1 months of imports, Bank Indonesia said in a statement. The February reserve level of $138.8 billion was the highest on record.

The rupiah lost 2 percent against the dollar in March, but has regained some of its losses so far this month.

https://www.reuters.com/article/indonesia-economy-reserves/indonesias-forex-reserves-down-1-7 billion-in-march-idUSJ9N2HI011

 

Category: Indonesia

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