Indonesia Forex Reserves Fall from 9-Month High

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Indonesia’s foreign exchange reserves declined to USD 154.6 billion in January 2026, down from a nine-month high of USD 156.5 billion in December. The decline was primarily driven by the government’s foreign debt payments and rupiah exchange rate stabilization measures implemented by Bank Indonesia in response to rising uncertainty in global financial markets. The current level is sufficient to cover 6.3 months of imports, or 6.1 months when accounting for the government’s external debt repayments, well above the international adequacy benchmark of around three months of imports

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