Indonesia’s foreign exchange reserves increased by $1.7 billion in April, central bank data showed on Friday, amid capital inflows back into emerging markets.
The end-April reserve level of $138.8 billion matched February’s level, which was the highest on record. It could cover the cost of 10 months of imports, Bank Indonesia said in a statement, adding that reserves were also influenced by tax revenues and foreign debt levels.
During April, the rupiah gained 0.6% against the dollar and continued strengthening this month.