Forex reserves fall to $16.39 billion
JAKARTA (JP): Indonesia's net foreign reserves decreased to US$16.39 billion in the week ending July 7, from $16.41 billion the previous week, the central bank said in its latest weekly report.
Bank Indonesia attributed the fall in the country's net foreign reserves to foreign debt repayment obligations.
The bank said net international reserves were still above the $14.7 billion target set by the International Monetary Fund.
Gross international reserves -- net foreign exchange reserves, plus outstanding foreign exchange contracts -- also decreased to $26.87 billion, from $26.90 billion the previous week.
Net claims on the Indonesian Bank Restructuring Agency (IBRA) increased slightly from the previous week, by Rp 1 billion to Rp 14.43 trillion, while net claims on the government were also slightly up by Rp 92 billion to Rp 118.96 trillion.
Open Market Operations expanded by Rp 448 billion to minus Rp 77.685 trillion.
The central bank said net domestic assets during the week increased by Rp 977 billion to minus Rp 44.78 trillion.
It noted the level was below the IMF-adjusted target of minus Rp 32.95 trillion. (udi)
Table A: Foreign exchange reserves (in million dollars)
June 23 June 30 July 7
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Gross foreign assets 26,857.1 26,897.1 26,870.9
- Liquid reserves * - - -
- Other reserves ** - - -
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 845.1 843.7 843.6
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Net international reserves 16,372.8 16,414.2 16,388.1
Table B: Monetary indicators ( in billion rupiah)
June 23 June 30 July 7
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Reserve money 74,898 77,351 78,132
- Currency in circulation 48,789 51,144 51,798
- Deposits at central bank 25,443 25,468 25,627
Net international reserves
(Rupiah at constant rate) 122,796 123,107 122,911
(in million dollars) 16,372.8 16,414.2 16,388.1
Net domestic assets -47,898 -45,756 -44,779
- Net claims on government 115,211 118,873 118,965
- Net claims on IBRA 14,428 14,438 14,439
- Liquidity credits 25,932 25,496 25,812
(of which to Bulog) 8,751 8,181 8,181
- Open market operations -79,157 -78,133 -77,685
Source: Bank Indonesia