Forex reserves fall by US$16.10m

Forex reserves fall by US$16.10m

JAKARTA (JP): Indonesia's net foreign exchange reserves
dropped by US$16 million to $29.091 billion in the week ending on
Feb. 23 from $29.107 billion in the previous week, Bank Indonesia
said in its weekly report.

The central bank attributed the drop to foreign debt payment
and payment of haj pilgrims' travel expenses.

The volume of primary money rose by Rp 3.86 trillion to Rp
102.77 trillion due to an increase in the circulation of bank
notes and coins.

The central bank said its market operation such as through the
auction of its promissory notes had caused an expansion of about
Rp 571 billion in the money supply.

It said the government's account at the central bank dropped
by Rp 3.12 trillion, partly due to payments of civil servants'
salaries and coupons for bank recapitalization bonds.

The central bank said net domestic assets during the week rose
by Rp 4.30 trillion to minus Rp 23.24 trillion.