BI net domestic assets expand
JAKARTA (JP): Bank Indonesia's net domestic assets (NDA) expanded Rp 1.34 trillion to minus Rp 72.59 trillion on Sept. 15 from minus Rp 73.93 trillion recorded on Sept. 7.
The central bank said in a statement on Thursday that the NDA expansion was boosted by the government's withdrawal of Rp 1.3 trillion from Bank Indonesia (BI) to service due foreign debts and finance various subsidies.
In addition, BI's open market operation also resulted in an expansion of Rp 1.98 trillion.
BI said its outstanding liquidity support to the country's ailing banks rose to Rp 141.92 trillion as of Sept. 15 from Rp 141.6 trillion the previous week, mainly from unpaid, accumulated interest rates.
On the other hand, the central bank absorbed Rp 1.1 trillion in circulation, resulting in a mild increase of Rp 28 billion in reserve money.
The government also sold some dollars for rupiah to sterilize liquidity, resulting in a US$246.3 million drop in the country's net international reserves to $14.19 billion as of Sept. 15 from $14.34 billion on Sept. 7.
The central bank said the decline was due to its move to sell dollars to absorb excess rupiah liquidity from the market.
It added that the country's gross foreign assets also dropped to $20.68 billion from $20.91 billion. (gis)
Table A: Foreign reserves (in million dollars)
Aug.31 Sept. 7 Sept. 15
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Gross foreign assets 19,914 20,908.1 20,681.8
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 5,868.5 5,868.5 5,868.5
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 527.9 603.1 623.7
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Net international reserves 13,517.7 14,436.5 14,189.6
* 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)
Aug.31 Sept.7 Sept.15
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Reserve money 68,588 68,395 68,423
- Currency in circulation 51,570 51,209 50,113
- Deposits at central bank 16,531 16,734 17,791
Net international reserves
(Rupiah at constant rate) 135,177 144,365 141,896
(in million dollars) 13,517 14,436 14,189
Net domestic assets -64,139 -73,926 -72,587
- Net claims on government -49,309 -40,830 -39,525
- Net claims on IBRA 141,523 141,606 141,920
- Liquidity credits 18,088 18,081 17,331
(of which to Bulog) 8,131 8,131 7,804
- Open market operations -68,403 -68,589 -66,613
Source: Bank Indonesia