Indonesian central bank forex reserves rise by February
Indonesian central bank
Jakarta - Xinhua
Foreign exchange reserves of the Indonesian central bank rose at the end of last month as rupiah relatively stable against the U.S. dollar amid rising exports.
The foreign exchange reserves rose to 119.9 billion U.S. dollars at the end of February from 116.9 billion U.S. dollars by January, the lender said on Wednesday.
That is sufficient to finance 8.9 months importation or 8.5 months importation and foreign debts, said the bank's spokesman Tirta Sagara.
Rupiah has been stable against the greenback since December partly due to the intervention from the monetary policymaker. Last year, rupiah gained 2.3 percent against the U.S. dollar.
In November, the forex reserves dropped 4 billion U.S. dollars due to higher rupiah volatility after the presidential election in the United States.
Indonesia exports have gradually picked up since the end of last year because of rising prices of commodities, the major exported products from Indonesia.
Source: Xinhua
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