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Indonesia FX reserves fall $3.6 billion in Jan to $141.3 billion By

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© Reuters. FILE PHOTO: Bank Indonesia’s logo is seen at Bank Indonesia headquarters in Jakarta, Indonesia, January 17, 2019. REUTERS/Willy Kurniawan

JAKARTA (Reuters) – Indonesia’s foreign exchange reserves fell by $3.6 billion in January to $141.3 billion, a level equivalent to 7.6 months of imports, the central bank said on Tuesday.

Bank Indonesia in a statement attributed the drop to repayment of public debt and a reduction in the level of commercial banks’ foreign currency placement at the central bank. It said the end-January level of reserves remained adequate to support macroeconomic and financial system stability.

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