Indonesia's forex reserves fall to 144.9 bln USD in May

JAKARTA, June 8 (Xinhua) -- Indonesia's foreign exchange reserves stood at 144.9 billion U.S. dollars at the end of May, down from 146.2 billion dollars a month earlier, Bank Indonesia (BI) said Monday.

Despite the monthly decline, the reserve position remains strong, equivalent to 5.6 months of imports or 5.5 months of imports and government external debt servicing, the central bank said.

The level remains well above the international adequacy standard, the BI added.

The central bank "views the current level of foreign exchange reserves as sufficient to support external sector resilience and maintain macroeconomic and financial system stability," BI Communications Department Head Ramdan Denny Prakoso said in a statement. Enditem