- FX reserves fell by USD 1.9 Bn to USD 154.6 Bn in Jan-26, driven by the government's foreign debt payments and the Rupiah stabilization measures.
- Market dynamics in January were influenced by multiple risk factors, such as geopolitical tensions, fiscal concerns, and MSCI reports, which contributed to exchange rate volatility and mixed capital flows.
- Looking ahead, FX reserve prospects in Q1-26 are expected to remain stagnant due to potential import acceleration.
