Indonesia forex reserves rise to $137.1b in June

JAKARTA: Indonesia's foreign exchange reserves rose by some $700 million in June to $137.1 billion, equivalent to 9.2 months of imports, boosted by proceeds from a government issuance of US dollar-denominated Islamic bonds, the central bank said on Wednesday.

The rise came despite the rupiah coming under pressure in June amid global market volatility after the US Federal Reserve turned hawkish on stimulus withdrawal plans. Bank Indonesia has pledged to intervene in the market to smooth any volatility in the rupiah.