FX.co ★ Indonesia Forex Reserves Fall from 9-Month High

In January 2026, Indonesia experienced a decrease in its foreign exchange reserves to USD 154.6 billion, a decline from the previous nine-month high of USD 156.5 billion recorded in December. This reduction was largely a result of the government's foreign debt settlements and the measures taken by Bank Indonesia to stabilize the rupiah amid rising uncertainties in global financial markets. Despite this decline, the reserve level is adequate to cover 6.3 months of imports, or 6.1 months when considering the government's external debt payments, which is significantly higher than the international adequacy standard of approximately three months of imports. Looking forward, Bank Indonesia remains optimistic about the stability of the external sector, largely due to continual foreign investment inflows. This perspective is bolstered by positive investor sentiments towards the national economic forecast and the consistently appealing investment returns.