Indonesia’s Forex Reserves Rise to $149.9 Billion in October 2025
Key Takeaways
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JAKARTA, Investortrust.id — Indonesia’s foreign exchange reserves have increased to $149.9 billion at the end of October 2025, rising from $148.7 billion in the previous month. The uptick reflects inflows from government global bond issuance and higher tax and service revenues, amid Bank Indonesia’s ongoing measures to stabilise the rupiah in a volatile global financial environment.
According to Bank Indonesia’s statement No. 27/267/DKom, the current reserves level is sufficient to finance 6.2 months of imports, or 6.0 months when combined with the government’s external-debt obligations. This figure remains well above the international adequacy benchmark of roughly three months of imports, underscoring the country’s robust external position.
Bank Indonesia’s View
“Bank Indonesia assesses that the level of foreign exchange reserves is sufficient to support external-sector resilience as well as macroeconomic and financial-system stability,” Ramdan Denny Prakoso, the cantral bank's communication excecutive director, said in a statement.
He added that the October increase stemmed from “government global bond issuance and revenue from taxes and services,” reflecting improved fiscal inflows.
BI reaffirmed its confidence in the sustainability of Indonesia’s external resilience, supported by a stable export outlook and continued foreign-investment inflows. The central bank pledged to maintain strong coordination with the government in managing external stability and sustaining long-term growth momentum.
The rise in reserves is a positive signal for Indonesia’s macroeconomic fundamentals. It enhances the central bank’s capacity to defend the rupiah, manage external shocks, and anchor investor confidence. Still, the fluctuations observed since early 2025 indicate that global market volatility — including US interest-rate movements and commodity-price shifts — remains a key risk factor.
Indonesia’s foreign exchange reserves have fluctuated over the past five years, largely reflecting shifts in global capital flows, export earnings, and external borrowing. In May 2020, reserves stood at $130.5 billion and steadily climbed through mid-2021, reaching $146.9 billion by September 2021 as the trade surplus expanded.
The trend turned volatile thereafter, dipping to $135.6 billion in mid-2022 amid import recovery, before strengthening again through 2023 and peaking at $157.1 billion in March 2025.
However, reserves softened during mid-2025 due to increased external payments and foreign-exchange interventions to stabilise the rupiah, dropping to $148.7 billion in September. The latest October figure thus represents a $1.2 billion rebound — the first monthly increase after two straight months of decline.