BI's gross forex reserves up to $22.76b
BI's gross forex reserves up to $22.76b
JAKARTA (JP): Bank Indonesia's gross foreign exchange reserves
rose by US$985.3 million to $22.76 billion in the week ending
Nov. 13 from the previous weekly level, the central bank said on
Wednesday.
The central bank attributed the increase to the withdrawal of
the IMF extended loan arrangement.
BI said, however, that net international reserves (NIR)
dropped by $100,000 primarily due to servicing government
foreign debt and stabilizing the rupiah.
The NIR level of $14.23 billion was still above the adjusted
NIR level of $11.26 billion targeted by the IMF, the bank said.
BI also said that its reserve funds declined by Rp 428 billion
to Rp 71.41 trillion in the week due to a contraction in net
claims on the government and open market operation.
Net claims on the Indonesian Bank Restructuring Agency
increased by Rp 315 billion, it added.
It said that net domestic assets declined by Rp 427 billion to
minus Rp 70.92 trillion, but this was still below the adjusted
target of minus Rp 39.56 trillion.
The central bank also announced that its weekly auction of
one-month SBI promissory notes absorbed Rp 7.1 trillion at a
weighted average interest rate of 49.66 percent. Total bids were
Rp 8.3 trillion. (rei)
Table A: Foreign reserves (in million dollars)
Oct. 30 Nov. 06 Nov. 13
--------------------------------------------------------------
Gross foreign assets 21,743.1 21,777.6 22,762.9
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 6,805.2 6,805.2 7,765.1
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 725.4 738.8 764.3
--------------------------------------------------------------
Net international reserves 14,212.5 14,233.6 14,233.5
* 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)
Oct. 30 Nov. 06 Nov. 13
--------------------------------------------------------------
Reserve money 70,541 71,839 71,411
- Currency in circulation 47,956 48,401 46,980
- Deposits at central bank 21,913 22,776 23,707
Net international reserves
(Rupiah at constant rate) 142,125 142,336 142,335
(in million dollars) 14,212.5 14,233.6 14,233.5
Net domestic assets -71,584 -70,497 -70,924
- Net claims on government -25,424 -30,794 -32,475
- Net claims on IBRA 135,828 135,438 135,753
- Liquidity credits 15,603 16,758 16,837
(of which to Bulog) 6,305 6,305 6,219
- Open market operation -57,488 -52,835 -54,346
Source: Bank Indonesia