Indonesia's Foreign Exchange Reserves Rise to $145.6 Billion in June 2026

Indonesia's foreign exchange reserves saw a modest increase at the end of June 2026, reaching $145.6 billion, according to Bank Indonesia (BI).

The reserves grew by $0.7 billion compared to the previous month, bringing the total to Rp 2,618 trillion, based on an exchange rate of Rp 17,980 per US dollar. BI attributed this growth primarily to incoming tax revenue and service receipts. These inflows helped offset government payments on foreign debt and the central bank's efforts to stabilize the rupiah amidst global financial market uncertainty.

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The development of the foreign exchange reserve position in June 2026 was mainly influenced by tax and service receipts amid government foreign debt payments and Bank Indonesia's rupiah exchange rate stabilization policies in response to high global financial market uncertainty.

Bank Indonesia views the current level of foreign exchange reserves as robust, capable of supporting external sector resilience and maintaining macroeconomic and financial system stability. The reserves are equivalent to 5.5 months of import cover, or 5.4 months when including government foreign debt payments, comfortably exceeding the international adequacy standard of approximately 3 months.

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Going forward, Bank Indonesia believes the external sector's resilience remains strong, supported by adequate foreign exchange reserves and foreign capital inflows in line with positive investor perceptions of national economic prospects and attractive investment returns.

Looking ahead, BI expressed confidence in the continued strength of the external sector, supported by adequate reserves and anticipated foreign capital inflows. This positive outlook is linked to investor confidence in Indonesia's economic prospects and the attractiveness of investment returns.

Fitch Ratings had previously highlighted Indonesia's foreign exchange reserves, noting that a sharp and sustained decline could pressure the country's debt rating. Fitch projected reserves to cover 4.9 months of external payments in 2026, slightly below the median for 'BBB' rated countries. The rating agency also pointed to BI's foreign exchange interventions as a factor in reducing reserves and tightening domestic funding conditions, warning that continued declines could exacerbate pressure on the nation's debt rating.

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A sustained and sharp decline in foreign exchange reserves, especially if driven by continuous capital outflows related to weaker investor confidence or further deterioration in governance indicators, could add pressure to the country's debt rating.