Forex reserves down

JAKARTA: Bank Indonesia said on Monday that foreign exchange reserves dropped by US$3.3 million in the fourth week of January to $27.77 billion from a week earlier.

The central bank said in a statement that the decline was primarily due to the repayment of government overseas debt.

Bank Indonesia also said that base money as of the end of January reached Rp 116.49 trillion, a Rp 3.22 trillion increase from the position a week earlier.

The central bank said that the increase was due to higher notes in circulation at the end of the month due to salary payments. -- JP