Rupiah Stabilisation Upset: Bank Indonesia Reports Decline in Foreign Reserves
Bank Indonesia (BI) has stated that Indonesia’s foreign exchange reserves position in March 2026 reached $148.2 billion. This figure represents a decline compared to the February 2026 position of $151.9 billion.
“This development was influenced by the government’s global bond issuance as well as tax and service receipts amid government foreign debt payments and rupiah exchange rate stabilisation policies. These stabilisation policies are BI’s response to heightened global financial market uncertainties,” said Head of BI’s Communication Department Ramdan Denny Prakoso in his statement on Wednesday (8/4/2026).
Denny explained that the foreign exchange reserves position at the end of March 2026 is equivalent to financing six months of imports or 5.8 months of imports and government foreign debt payments, and it remains above the international adequacy standard of around three months of imports.
“BI assesses that these foreign exchange reserves are capable of supporting external sector resilience as well as maintaining macroeconomic stability and the financial system,” he said.
Going forward, BI believes that external sector resilience will remain strong, supported by adequate foreign exchange reserves and foreign capital inflows, in line with positive investor perceptions of the national economic prospects and attractive investment returns.
Denny emphasised that BI continues to enhance synergy with the government in strengthening external resilience to maintain economic stability in support of sustainable economic growth.
It is known that the rupiah exchange rate continues to experience a weakening trend amid high global uncertainties due to the war in the Middle East. The rupiah position closed at Rp 17,105 per US dollar on Tuesday (7/4/2026).
BI states that stability is the top priority, so optimisation of all available monetary operation instruments is being carried out. The central bank will always be present in the money market, both in the spot market, DNDF, and NDF in the offshore market to maintain rupiah stability.