Jakarta. Indonesia’s foreign exchange reserves fell to $148.7 billion at the end of September 2025, down from $150.7 billion in August, according to a report released by Bank Indonesia (BI) on Tuesday.

Foreign reserves, built largely from export earnings, foreign investment, and government bond inflows, serve as a buffer to defend the rupiah and meet external obligations.

The decline, the central bank said, was mainly due to government external debt payments and foreign exchange stabilization measures aimed at maintaining the rupiah’s value amid ongoing global market volatility.

“The decrease in foreign reserves in September was primarily caused by external debt repayments and the central bank’s efforts to stabilize the rupiah exchange rate,” said Ramdan Denny Prakoso, Executive Director of BI’s Communications Department, in Jakarta.

Despite the drop, Ramdan stressed that Indonesia’s reserve position remains secure and well above international adequacy standards. The current level is sufficient to cover 6.2 months of imports or 6 months of imports plus government external debt payments, compared with the international benchmark of around three months.

“Bank Indonesia considers the current reserve level adequate to support economic and financial stability,” he said.

The central bank remains optimistic about Indonesia’s external resilience, citing strong export performance and sustained investor confidence in the domestic economy.

Ramdan noted that the country continues to enjoy a positive capital and financial account surplus, reflecting foreign investors’ favorable outlook on Indonesia’s growth prospects and competitive investment returns.

“Bank Indonesia will continue to strengthen coordination with the government to maintain macroeconomic stability and ensure sustainable economic growth,” Ramdan added.