BI's claims from troubled banks drop
JAKARTA (JP): Bank Indonesia (BI) said yesterday that its net claim on the Indonesian Bank Restructuring Agency (IBRA) declined slightly to Rp 131.91 trillion on June 12 from Rp 132.12 trillion the previous week.
The slight decline was due to a settlement of obligations by troubled banks under the management of IBRA, the central bank said in a media statement.
BI has been injecting credit into banks suffering from liquidity problems to support IBRA's guarantee on bank deposits.
BI said the obligation settlement and an increase in government deposits in the central bank had reduced currency in circulation by Rp 1.44 trillion, against a monetary expansion of Rp 81 billion from BI's open market operations.
The central bank also reported that its net international reserves increased US$46.3 million to Rp 14.67 billion due mainly to oil and gas export revenue. (rei)
Table A: Foreign Reserves (in million dollars)
May 29 June 5 June 12
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Gross foreign assets 19,026.7 19,012.1 19,051.4
- Liquid reserves * 12,442.9 12,412.4 12,457.3
- Other reserves ** 6,583.8 6,599.7 6,594.1
Gross foreign liabilities 3,921.2 3,921.2 3,921.2
Net forward positions -34.0 -34.0 - 34.0
Reserve against
foreign currency deposits 441.7 435.5 428.5
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Net international reserves 14,629.8 14,621.4 14,667.7
* 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 offshores and deposits parked at foreign banks to guarantee letter of credits.
Table B: Monetary Indicators (in billion rupiah)
May 29 June 5 June 12
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Reserve money 67,965 68,624 67,179
- Currency in circulation 49,228 51,596 50,459
- Deposits at central bank 17,760 16,164 15,842
Net international reserves
(Rupiah at constant rate) 102,409 102,350 102,674
(in million dollars) 14,629.8 14,621.4 14,667.7
Net domestic assets -34,444 -32,381 -33,660
- Net claims on government -36,410 -37,772 -40,273
- Net claims on IBRA 124,633 132,115 131,913
- Liquidity credits 19,139 19,299 19,312
(of which to Bulog) 7,404 7,404 7,404
- Open market operations -64,210 -72,501 -72,420
Source: Bank Indonesia