BI forex reserves drop to $15.09b

BI forex reserves drop to $15.09b

JAKARTA (JP): Bank Indonesia announced on Wednesday the
country's net foreign exchange reserves declined by US$5.5
million after the repayment of government overseas loans.

The central bank said in its weekly monetary indicator report
that the net international reserves (NIR) dropped to $15.09
billion as of Feb. 5, from $15.10 billion on Jan. 29.

The bank, however, added that the NIR level was still above
the IMF adjusted target of $11.20 billion.

Gross international reserves, which are net foreign exchange
reserves plus outstanding foreign exchange contracts, also
declined by $1.9 million to $24.62 billion from the level in the
previous week, the central bank said.

BI also said that net claims on the Indonesian Bank
Restructuring Agency declined by Rp 1.56 trillion to Rp 111.946
trillion as banks taken over by the agency repaid some of the
liquidity support injected by the central bank.

The government's account at the central bank declined by Rp
318 billion primarily due to the repayment of government foreign
loans.

The bank also reported that net domestic assets during the
week dropped by Rp 2.54 trillion to minus Rp 78.69 trillion, well
below the adjusted IMF target of minus Rp 35.45 trillion. (rei)