Forex reserves rise slightly

Forex reserves rise slightly

JAKARTA (JP): Indonesia's net foreign exchange reserves
increased by US$39.6 million to $16.05 billion as of Oct. 7, from
$16.01 billion in the previous week, Bank Indonesia (BI) said on
Monday.

The central bank said in its weekly report that the increase
was attributed to revenue from the country's oil exports and
disbursement of foreign loans.

BI said that the foreign exchange reserves were above the $14
billion adjusted net international reserves target set by the
International Monetary Fund.

BI also said that gross international reserves, which are net
foreign exchange reserves plus outstanding foreign exchange
contracts, rose by 33.5 million to $26.94 billion in the same
period.

The central bank also said that reserve money increased to Rp
82 trillion on Oct. 7, compared to Rp 81.3 trillion in the
previous week.

BI said that the increase resulted from the salary payment of
government employees. (rei)