BI's net forex reserves drop to US$13.96 billion
JAKARTA (JP): Bank Indonesia said on Monday that its net foreign exchange reserves decreased by US$91.6 million to $13.96 billion on Jan. 7 compared to last week's level.
The drop was particularly due to the repayment of government foreign debts, the central bank said in its weekly indicator report.
BI said its net international reserves were still above the IMF adjusted target of $10.90 billion.
The bank also said that gross foreign exchange reserves during the week dropped by $97.9 million to $23.5 billion.
Net claims on the Indonesian Bank Restructuring Agency fell by Rp 2.89 trillion to Rp 116.79 trillion on the back of liquidity support repayments made by banks under the control of the agency, BI said.
It also reported that net domestic assets as of Jan. 7 were minus Rp 65.28 trillion, an increase of Rp 154 billion from last week's level.
BI added that the net domestic assets level was still below the IMF adjusted target of minus Rp 33.58 trillion. (rei)
Table A: Foreign reserves (in million dollars)
Dec. 23 Dec. 31 Jan. 7
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Gross foreign assets 23,960.0 23,599.2 23,501.3
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 9,728.8 8,728.8 8,728.8
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 801.5 814.7 808.4
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Net international reserves 14,429.7 14,055.7 13,964.1
* 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. 23 Dec. 31 Jan. 7
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Reserve money 72,564 75,121 74,359
- Currency in circulation 45,699 48,506 49,127
- Deposits at central bank 26,458 26,191 24,731
Net international reserves
(Rupiah at constant rate) 144,297 140,557 139,641
(in million dollars) 14,429.7 14,055.7 13,964.1
Net domestic assets -71,733 -65,436 -65,282
- Net claims on government -29,236 -9,019 -8,328
- Net claims on IBRA 137,570 119,673 116,786
- Liquidity credits 18,735 17,442 17,540
(of which to Bulog) 7,385 5,876 5,876
- Open market operations -61,856 -58,833 -57,468
Source: Bank Indonesia