VIVAnews – Bank Indonesia (BI) predicts that the country’s foreign exchange reserve can reach US$66 billion in the end of 2009.
“Until October 2009, the foreign exchange reserve has reached US$64.5 billion,” said BI acting governor Darmin Nasution after a meeting with the Vice President in Jakarta on Wednesday, Dec. 2.
Nasution said that it is predicted that the Indonesia’s foreign exchange reserve until November 2009 will exceed US$65 billion.
“Although we do not have a special plan to raise the foreign exchange reserve, having larger foreign exchange reserve will be better,” said Nasution.
He said that the US$66 billion foreign exchange reserve will finance imports, debt installment, and interest for 6.5 months. “This condition is good for the foreign exchange market and rupiah exchange rate,” he said.
Nasution also explained that the rupiah exchange rate against the US dollar in 2010 will be most likely going stronger, which will be related to the weakening US dollar exchange rate against other currencies.
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Translated by: Ariyantri E. Tarman
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