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Indonesia’s FX Reserves Hit Two-Year Low on Rupiah Defense - BLOOMBERG
By Grace Sihombing and Prima Wirayani
Indonesia’s foreign-exchange reserves fell for a third straight month in March to the lowest level in nearly two years as the central bank stepped up market intervention to stabilize the falling rupiah.
Foreign reserves declined $3.7 billion to $148.2 billion, the lowest since July 2024, due to Bank Indonesia’s steps to stabilize the currency and the government’s external debt repayments, the central bank said in a statement on Wednesday. The stockpile shrank by $8.3 billion in the first three months of this year.
