REPUBLIKA.CO.ID, JAKARTA - International rating agency Fitch Ratings recently states the foreign exchange in Bank Indonesia is still safe. On May 31, 2012, national foreign exchange is in the amount of 111.53 billion USD.

The Head of Economist in Bank Mandiri, Destri Damayanti, agreed with Fitch by saying that the latest Indonesian foreign exchange was equal to 6.3 months of import and payment of debt. "The number is far above the international safe standard, which is three months of import and the payment of debt," Damayanti said on Sunday.

Recently BI actively conduct monetary intervention over foreign currency because there is normal demand but with no supply. The exports finally restrain their dollar and BI is forced to enter market to add the supply of dollar.

The market, she said, was in fear because BI's intervention caused the declining of national foreign exchange. BI's foreign exchange is decreased by five billion USD in five months. The number is from 116.4 billion USD on April 2012 to 111.53 billion USD on March 2012.

But on September 2011, BI issued 10 billion USD of foreign exchange. Yet, Indonesian economy is still strong in Asia. "Fitch Ratings' statement strengthens BI safe position," she said. It shows that BI can maintain its role to stabilize exchange rate.

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