BI net foreign reserves up to $14.43b
JAKARTA (JP): Bank Indonesia said on Monday that its net international reserves (NIR) rose by US$146.3 million to $14.43 billion as of Dec. 23 from the Dec. 15 level.
The central bank said in its weekly indicator report that the slight increase was due to government revenue from oil and gas exports and the disbursement of offshore loans.
The NIR level is above the IMF target of $10.86 billion, it added.
BI reported that gross foreign exchange reserves, which include net foreign exchange reserves plus outstanding foreign exchange contracts, during the week also increased by $1.11 billion to $23.96 billion.
Net domestic assets increased by Rp 171 billion to minus Rp 71.73 trillion, below the IMF adjusted target of minus Rp 34.28 trillion, BI said.
The central bank said net claims to the Indonesian Bank Restructuring Agency amounted to Rp 137.57 trillion.
BI also said that the volume of its liquidity credit expanded by Rp 850 billion, which was particularly funneled to the State Logistics Agency (Bulog), small farmers and cooperatives. (rei)
Table A: Foreign reserves (in million dollars)
Dec.7 Dec.15 Dec.23
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Gross foreign assets 22,832.1 22,847.1 23,960.0
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 7,765.1 7,765.1 9,728.8
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 797.3 798.6 801.5
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Net international reserves 14,269.7 14,283.4 14,429.7
* 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)
Dec.7 Dec.15 Dec.23
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Reserve money 71,162 70,930 72,564
- Currency in circulation 47,010 45,968 45,699
- Deposits at central bank 23,488 24,349 26,458
Net international reserves
(Rupiah at constant rate) 142,697 142,834 144,297
(in million dollars) 14,269.7 14,283.4 14,429.7
Net domestic assets -71,535 -71,904 -71,733
- Net claims on government -26,341 -28,576 -29,236
- Net claims on IBRA 134.253 134,474 137,570
- Liquidity credits 17,283 17,885 18,735
(of which to Bulog) 6,301 6,734 7,385
- Open market operations -59,446 -60,853 -61,856
Source: Bank Indonesia