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JAKARTA- Indonesia’s foreign exchange reserves dropped by $4.2 billion to $136.2 billion at end-April, the biggest fall in nearly a year, after authorities took measures to stabilize the weakening rupiah currency, the central bank said.
“The declining FX reserves position was due to payment of government’s foreign debts and the need to stabilize rupiah amid increasing global financial market uncertainty,” Bank Indonesia said in a statement on Wednesday.
The drop was the biggest since May 2023, when reserves fell $4.9 billion to $139.3 billion.
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