BI's net domestic assets up to Rp 73.93t
JAKARTA (JP): Bank Indonesia's (BI) net domestic assets rose 15 percent, or Rp 9.79 trillion (US$830 million), to Rp 73.93 trillion during the week ending Sept. 7, the central bank reported on Thursday.
The central bank said the increase from the previous week's Rp 64.14 figure was primarily driven by Rp 8.48 trillion in increased government spending.
Bank Indonesia, however, did not say whether the expansion was acceptable under the country's agreement with the International Monetary Fund (IMF). During the previous week, the IMF capped domestic assets at Rp 65.22 trillion.
The central bank's net claims on the Indonesian Bank Restructuring Agency (IBRA) rose to Rp 141.61 trillion during the same period from the previous week's level of Rp 141.52 trillion.
Net international reserves also increased $919 million to $14.44 billion from the previous week's level of $13.52 billion due to loan disbursements.
The level is far above the adjusted IMF target of $13.72 billion, the bank said.
A disbursement of $1 billion in loans from the Export Import Bank of Japan was responsible for the rise, it said, adding that reserves would fall again. (rid)
Table A: Foreign Reserves (in million dollars)
Aug. 21 Aug. 31 Sept. 7
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Gross foreign assets 19,072.9 19,914.1 20,908.1
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 4,896.4 5,868.5 5,868.5
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 468.1 527.9 603.1
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Net international reserves 13,708.4 13,517.7 14,436.5
* 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)
Aug. 21 Aug. 31 Sept. 7
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Reserve money 69,023 68,588 68,395
- Currency in circulation 50,915 51,570 51,209
- Deposits at central bank 17,103 16,531 16,734
Net international reserves
(Rupiah at constant rate) 137,084 135,177 144,365
(in million dollars) 13,708 13,517 14,436
Net domestic assets -66,226 -64,139 -73,926
- Net claims on government -52,275 -49,309 -40,830
- Net claims on IBRA 140,807 141,523 141,606
- Liquidity credits 18,278 18,088 18,081
(of which to Bulog) 8,221 8,131 8,131
- Open market operations -67,647 -68,403 -68,589
Source: Bank Indonesia