Bank Indonesia's net int'l reserves increase slightly
JAKARTA (JP): Bank Indonesia's net international reserves increased by US$64.9 million to $13.9 billion in the week ending Oct. 23, up from $13.8 billion in the previous week, the central bank said on Tuesday.
The central bank said in a statement that the increase resulted from the disbursement of a foreign loan and foreign exchange revenue from the export of oil and natural gas.
It added that the reserve level was above the minimum level of $11.67 billion allowed by the IMF.
Net domestic assets stood at minus Rp 69.73 trillion as of Oct. 23, compared to minus Rp 68.59 trillion the previous week, Bank Indonesia (BI) said.
It said that net domestic assets were below the IMF's maximum indicative target of minus Rp 45.2 trillion.
The Rp 1.14 trillion contraction in net domestic assets resulted primarily from lower net claims on the government and liquidity credit to domestic banks, the central bank said.
BI said that its net claims on the Indonesian Bank Restructuring Agency (IBRA) declined by Rp 2.74 trillion to Rp 135.77 trillion from the previous week's level.
It added that the decline was primarily due to the repayment of central bank liquidity support by several banks under IBRA supervision. (gis)
Table A: Foreign reserves (in million dollars)
Oct. 7 Oct. 15 Oct. 23
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Gross foreign assets 21,381.0 21,319.2 21,424.7
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 6,805.2 6,805.2 6,805.2
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 627.7 666.2 706.8
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Net international reserves 13,948.1 13,847.8 13,912.7
* Liquid gross foreign assets include gold, foreign securities, offshore deposits and special drawing rights.
** Other gross foreign assets include export drafts, deposits in the branches of domestic banks in offshore and deposits parked at foreign banks to guarantee letter of credits.
Table B: Monetary indicators (in billion rupiah)
Oct. 7 Oct. 15 Oct. 23
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Reserve money 71,551 69,884 69,394
- Currency in circulation 49,897 47,888 46,536
- Deposits at central bank 21,031 21,347 22,211
Net international reserves
(Rupiah at constant rate) 139,481 138,478 139,127
(in million dollars) 13,948.1 13,847.8 13,912.7
Net domestic assets -67,930 -68,594 -69,733
- Net claims on government -28,485 -29,050 -26,821
- Net claims on IBRA 141,991 138,487 135,744
- Liquidity credits 17,762 16,578 16,527
(of which to Bulog) 7,583 6,284 6,240
- Open market operations -65,914 -60,968 -58,377
Source: Bank Indonesia