Jakarta – Bank Indonesia (BI) recorded Indonesia’s foreign exchange reserves at US$152.6 billion at the end of June 2025, a slight increase from US$152.5 billion at the end of May. This demonstrates continued economic resilience amidst unstable global conditions.
The strength of Indonesia’s foreign exchange reserves reflects not only fiscal resilience but also the success of macroeconomic policies implemented by Bank Indonesia and the government. This stability was achieved through a combination of prudent monetary policy, disciplined budget management, and inter-agency coordination in addressing global dynamics, such as geopolitical tensions and financial market volatility.
Executive Director of the BI Communications Department, Ramdan Denny Prakoso, stated that the increase in reserves stemmed from three main elements: tax and service revenues, proceeds from the government’s global bond issuance, and BI’s intervention to stabilize the rupiah amidst global market uncertainty.
“The foreign exchange reserves position at the end of June 2025 was equivalent to financing 6.4 months of imports or 6.2 months of imports and servicing government foreign debt, still far above the international adequacy standard of around 3 months of imports,” explained Ramdan.
Ramdan emphasized that this reserve level demonstrates the readiness of the government and Bank Indonesia (BI) to support external sector resilience, maintain macroeconomic stability, and support the national financial system.
“Continued synergy between BI and the government is considered crucial in maintaining this momentum for sustainable economic growth,” he said.
Meanwhile, Bank Mandiri Chief Economist Andry Asmoro assessed that although global stability remains uncertain, there is a trend of easing geopolitical tensions, such as the US trade agreement and the Iran-Israel ceasefire, which are helping to weaken pressure on the rupiah.
“These calmer global conditions support the strengthening of the rupiah and contribute to a moderate increase in foreign exchange reserves,” said Andry.
From a global macroeconomic perspective, Maybank Indonesia’s Global Market Economist, Myrdal Gunarto, revealed that several factors contributed to the slight increase in foreign exchange reserves amidst the new DHE SDA policy. First, June marked the period for dividend distributions from domestically listed companies to investors, including foreign investors.
“Secondly, from a market perspective, particularly in the stock market, outflows occurred due to high volatility, particularly developments related to the war between Israel and Iran,” Myrdal explained.
With solid foreign exchange reserves and the support of appropriate macro-fiscal policies, Indonesia currently demonstrates commendable economic resilience. Synergy between the government and Bank Indonesia (BI) is key to maintaining this momentum, ensuring stability and sustainable economic growth in the future.
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