Indonesia foreign reserves fall to two-year low in April
Updated
Updated · Bloomberg · May 8
Indonesia foreign reserves fall to two-year low in April
11 articles · Updated · Bloomberg · May 8
Bank Indonesia said reserves dropped $1.95 billion to $146.2 billion, the lowest since July 2024, after intervention to support the rupiah and government external debt payments.
The April decline extended this year's fall in reserves to $10.27 billion, underscoring pressure on the currency and the cost of stabilisation efforts.
The lower reserve stockpile highlights Indonesia's reduced buffer against external shocks as policymakers balance debt obligations with defending the rupiah.
As its reserves dwindle, is Indonesia's 'all-out' currency defense a battle it is destined to lose?
The rupiah has fallen past 1997 crisis levels. Could it trigger a new emerging market crisis?