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Indonesia forex reserves hit record high of US$144.8 billion in August

Indonesia forex reserves hit record high of US$144.8 billion in August

FILE PHOTO: Logo of Indonesia's central bank, Bank Indonesia, as seen in Jakarta, Indonesia January 19, 2017. REUTERS/Fatima El-Kareem

JAKARTA: Indonesia's foreign exchange reserves rose by US$7.5 billion in August to hit a record high of US$144.8 billion, boosted by the International Monetary Fund's Special Drawing Rights' (SDR) allocation, the central bank said on Tuesday.

The Southeast Asian country got SDR equivalent to US$6.31 billion from the IMF, which the fund gave to support global economic stability amid the COVID-19 pandemic, it said.

Indonesia's August reserve level was equal to 9.1 months of imports.

 

(Reporting by Gayatri Suroyo; Editing by Ed Davies)

Source: Reuters

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