Indonesia Foreign Reserves jumped to $131.70b in January, highest since January 2018
Indonesia Foreign Reserves jumped to $131.70b in January, highest since January 2018, driven by inflows from govt’s global bonds sale, according to Bank Indonesia. Inflows also supported by forex earnings from the oil and gas sector and others. Reserves increased from $129.18b in December. Bank Indonesia sees reserves at a sufficient level and able to support external sector stability and maintain macroeconomic and financial system stability.
U.S. President Donald Trump and Chinese President Xi Jinping reaffirmed their commitment to implementing the phase-one trade deal signed between the two countries last month. China announced Thursday that it would cut tariffs on U.S. goods, with the rate on some goods dropping to 5% from 10%, and the others to2.5% from 5%. However, the virus outbreak has raised concerns that China might not be able to make the purchases it promised and fulfill the terms of the deal.