Forex reserves reach $17b

JAKARTA (JP): The country's net foreign exchange reserves rose by US$361 million to $17.06 billion in the week ending Jan. 31, from $16.7 billion a week earlier.

Bank Indonesia said in its latest weekly report on Wednesday that the increase was mostly due to disbursement of the World Bank's loans to the country on Friday.

The World Bank disbursed $300 million of a suspended $600 million loan package destined for the country's social safety net program.

Bank Indonesia said the country's gross forex reserves, which are net forex reserves plus outstanding forex contracts, rose $366.9 million to $28.02 billion.

The central bank said the volume of primary (base) money increased Rp 1.6 trillion to Rp 87.72 trillion in the week ending Jan. 31 from Rp 86.12 trillion the previous week.

Net domestic assets contracted Rp 7.42 trillion to minus Rp 31.73 trillion, it said. (rid)