- FX reserves rose to USD 146.5 Bn in August, helped by portfolio inflows from all 3 main instruments and rising value of gold.
- Lower outstanding FX swaps could be caused by worse CA performance and/or lower need to hedge amidst strengthening Rupiah.
- Climate-related exports disruption and Hawkish outlook amidst global central banks may compel BI to adopt a hike rates once more this year.