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Update: Indonesia's Forex Reserves Fall to $144.9 Billion in May

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(Updated to add context)

Indonesia's foreign exchange reserves fell to $144.9 billion at the end of May from $146.2 billion at the end of April, according to data released by Bank Indonesia on Monday.

The decline reflected government external debt repayments and Bank Indonesia's efforts to stabilize the rupiah amid heightened uncertainty in global financial markets and seasonal domestic demand for foreign currency. The impact was partly offset by proceeds from the government's global bond issuance, as well as by tax and service receipts.

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