Indonesia's Foreign Exchange Reserves Fell to $144.9 Billion at the End of May, says BCA Securities

Indonesia’s foreign exchange reserves at the end of May 2026 were recorded at $144.9 billion, lower than the position at the end of April 2026, which stood at $146.2 billion. This development in May 2026 was influenced by the issuance of government global bonds as well as tax and service revenues, amidst the payment of the government’s foreign debt and Bank Indonesia’s exchange rate stabilisation policies in response to high uncertainty in global financial markets and seasonal domestic demand for foreign currency.

According to a written statement from Bank Indonesia on Monday, overall, the foreign exchange reserve position at the end of May 2026 remains strong, equivalent to 5.6 months of imports or 5.5 months of imports and government foreign debt payments, and remains above the international adequacy standard of approximately 3 months of imports. Bank Indonesia assesses that these reserves are capable of supporting external sector resilience and maintaining macroeconomic and financial system stability.

Looking ahead, Bank Indonesia believes that external sector resilience remains good, supported by an adequate foreign exchange reserve position and foreign capital inflows, in line with positive investor perceptions of the national economic outlook and attractive investment yields. Bank Indonesia continues to increase synergy with the Government to strengthen external resilience in order to maintain economic stability to support sustainable economic growth.