# Indonesia's FX reserves drop by some $9 bln amid capital outflows

> Indonesia's foreign exchange reserves fell by about $9 billion in March to roughly $121 billion, the largest monthly drop since 2011. Bank Indonesia stepped up intervention to defend the rupiah, which lost 14% in March as investors sold riskier assets.

- Date: 2020-04-02 · published 2020-04-02T12:00:00.000Z
- Category: macro · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/53943-indonesia-s-fx-reserves-drop-by-some-9-bln-amid-capital-outflows
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md)

## Why it matters

Heavy reserve use to defend the currency signals capital outflows that pressure the rupiah and raise import costs for feed. Continued intervention limits how far the currency can strengthen.

## Read by commodity

- USDIDR: bullish ▲

## Sources

- english.kontan.co.id: https://english.kontan.co.id/news/indonesias-fx-reserves-drop-by-some-9-bln-amid-capital-outflows

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.