BI net int'l reserves increase to $14.59b<\/p>\n
JAKARTA (JP): Bank Indonesia's net international reserves as
\nof May 8 totaled US$14.59 billion, an increase of $276.3 million
\nfrom $14.31 billion the previous week.<\/p>\n
The central bank said in its weekly economic indicators report
\nthat the higher reserves were coming from the drawing of the
\ngovernment's overseas loans.<\/p>\n
BI's gross foreign assets also increased by $1.26 billion to
\n$19.03 billion on the back of an increase in securities and
\nexport drafts held by the central bank.<\/p>\n
The central bank said net international reserves were still
\nhigher than the minimum level agreed with the International
\nMonetary Fund. But the bank did not mention the level.<\/p>\n
BI also reported that its net domestic assets reached negative
\nRp 40.36 trillion, indicating a contraction of Rp 2.66 trillion
\nfrom the level on May 1.<\/p>\n
The contraction resulted from the decline in net claims on the
\ngovernment and Indonesian Bank Restructuring Agency (IBRA), the
\nstatement said.<\/p>\n
BI explained that the contraction in net claims on the
\ngovernment resulted from higher tax revenue and the drawing of
\noffshore loans.<\/p>\n
The decline in net claims on IBRA followed the improving
\nliquidity of the banks under the supervision of the agency, it
\nadded.<\/p>\n
Bank Indonesia said net domestic assets were far below the
\nceiling set by the IMF. Again the bank did not mention the
\nceiling.<\/p>\n
The central bank said that the improvements in NIR and NDA
\nfigures were also reflected in the decline in reserve money by Rp
\n700 billion during the week.<\/p>\n
Meanwhile, money in circulation shrank by Rp 950 billion,
\nindicating an inflow of the public's money into the banking
\nsystem, it said. (rei)<\/p>\n
Table A: Foreign Reserves (in million dollars)<\/p>\n
April 24 May 1 May 8<\/p>\n
------------------------------------------------------------<\/p>\n
Gross foreign assets 17,755.9 17,762.4 19,026.1<\/p>\n
- Liquid reserves * 11,466.0 11,435.3 12,523.7<\/p>\n
- Other reserves ** 6,289.1 6,327.1 6,502.4<\/p>\n
Gross foreign liabilities 2,940.9 2,940.9 3,921.2<\/p>\n
Net forward positions -34.0 -34.0 -34.0<\/p>\n
Reserve against<\/p>\n
foreign currency deposits 468.4 478.0 485.1<\/p>\n
------------------------------------------------------------<\/p>\n
Net international reserves 14,312.6 14,309.5 14,585.8<\/p>\n
* Liquid gross foreign assets include gold, foreign
\nsecurities, offshore deposits and special drawing rights.<\/p>\n
** Other gross foreign assets include export drafts, deposits
\nin the branches of domestic banks in offshores and deposits
\nparked at foreign banks to guarantee letter of credits.<\/p>\n
Table B: Monetary Indicators (in billion rupiah)<\/p>\n
April 24 May 1 May 8<\/p>\n
------------------------------------------------------------<\/p>\n
Reserve money 60,346 61,489 60,801<\/p>\n
- Currency in circulation 44,115 44,820 43,871<\/p>\n
- Deposits at central bank 15,325 15,749 16,039<\/p>\n
Net international reserves<\/p>\n
(Rupiah at constant rate) 100,188 100,165 102,101<\/p>\n
(in million dollars) 14,312.6 14,309.5 14,585.8<\/p>\n
Net domestic assets -38,564 -37,702 -40,361<\/p>\n
- Net claims on government -27,028 -27,624 -30,086<\/p>\n
- Net claims on IBRA 101,849 101,826 101,400<\/p>\n
- Liquidity credits 26,964 26,992 27,141<\/p>\n
(of which to Bulog) 15,591 15,598 15,663<\/p>\n
- Open market operations -45,197 -45,302 -45,174<\/p>\n
Source: Bank Indonesia<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/bi-net-intl-reserves-increase-to-1459b-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }