Indonesia’s foreign-exchange reserves fell for a fifth straight month in May, underscoring the cost of policymakers’ efforts to steady the rupiah after its slide to a record low.
Reserves dropped to $144.9 billion last month, marking the longest stretch of losses since 2018. The decline was due to the government’s external debt payments and the central bank’s measures to stabilize the rupiah amid high uncertainty in global financial markets, Bank Indonesia said in an emailed statement Monday.
