Forex reserves decline to US$16.1 billion
JAKARTA (JP): Bank Indonesia said on Monday its net foreign exchange reserves decreased by US$281 million to $16.1 billion on July 15 compared to the previous week's level.
The central bank said in its weekly indicator report the drop was mainly due to the repayment of government foreign debts.
But BI said its net international reserves were still above the IMF-adjusted target of $14.7 billion despite the drop.
The bank said gross foreign exchange reserves during the week dropped $295.8 million to $26.6 billion.
BI said reserve money declined by Rp 1.16 trillion to Rp 76.97 trillion compared to the level in the previous week due to the drop in currency in circulation.
The bank said net claims to the government increased by Rp 1.98 trillion.
BI said net domestic assets stood at minus Rp 43.83 trillion as of July 15, an increase of Rp 949 billion from the previous week, but still well below the adjusted target set by the IMF. (rei)
Table A: Foreign reserves (in million dollars)
June 30 July 7 July 15
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Gross foreign assets 26,897.1 26,870.9 26,575.1
- Liquid reserves * 22,168.0 22,163.1 22,049.2
- Other reserves ** 4,729.1 4,707.8 4,525.9
Gross foreign liabilities 9,639.2 9,639.2 9,639.2
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 843.7 843.6 829.0
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Net international reserves 16,414.2 16,388.1 16.106.9
* 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)
June 30 July 7 July 15
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Reserve money 77,351 78,132 76,972
- Currency in circulation 51,144 51,798 50,200
- Deposits at central bank 25,468 25,627 26,053
Net international reserves
(Rupiah at constant rate) 123,107 122,911 120,802
(in million dollars) 16,414.2 16,388.1 16,106.9
Net domestic assets -45,756 -44,779 -43,830
- Net claims on government 118,873 118,965 120,950
(government bonds) 218,316 218,316 218,316
- Liquidity supports * 25,672 25,676 25,674
(net claims on IBRA) * 14,438 14,439 14,440
- Liquidity credits 25,496 25,812 25,797
(extended to Bulog) 8,181 8,181 7,744
- Open market operations -78,133 -77,685 -77,894
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* Not including interest