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Indonesia's forex reserves drop to US$130.4b at end-Feb

[JAKARTA] Indonesia's foreign exchange reserves dropped by US$1.3 billion to US$130.4 billion at the end of February, data from the central bank showed on Friday.

The country had foreign outflows in government bonds and stocks during the month linked to the coronavirus outbreak.

Still, Bank Indonesia Governor Perry Warjiyo said that Indonesia has "more than enough" foreign exchange reserves to maintain market stability.

The first drop in foreign exchange reserves since November was mainly caused by payments of government's foreign debts, the bank said in a statement.


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