BI's forex reserve falls

JAKARTA (JP): Bank Indonesia said on Monday that the country's foreign exchange reserves declined slightly to US$28.49 billion during the first week this month from $28.59 billion in the previous week, largely due to its foreign loan repayment.

Bank Indonesia said the base money on June 7 reached Rp 108.66 trillion, an increase of Rp 924 billion from the level on May 31.

The increase resulted particularly from an increase in the currency in circulation due to civil servant's salary payments, the bank said.

The central bank also said the government's net account rose by Rp 3.35 trillion, thanks to revenue from the Indonesian Bank Restructuring Agency, taxes, and oil exports.

Bank Indonesia said its open-market operations during the first week of June had prompted an expansion of Rp 4.22 trillion in the money supply. (03)