Forex reserves rise to $16.40b

Forex reserves rise to $16.40b

JAKARTA (JP): Indonesia's net foreign exchange reserves rose
by US$123.80 million to $16.40 billion in the week ending Nov. 5.

Bank Indonesia said in its latest weekly report that the rise
was partly due to an increase in oil and gas export revenues and
the reimbursement of foreign debts.

The central bank said the country's net foreign exchange
reserves exceeded the minimum target of $14.3 billion set by the
International Monetary Fund (IMF).

Gross foreign exchange reserves, which are net reserves plus
outstanding foreign exchange contracts, rose by $118.70 million
to $27.26 billion.

The central bank also said the volume of primary (base) money
dropped to Rp 82.77 trillion in the week ending Nov. 5 from Rp
82.85 trillion the previous week.

The drop was partly due to a decline in money in circulation
and the amount of savings commercial banks deposited at the
central bank, Bank Indonesia said.

Meanwhile, net domestic assets declined by Rp 1.01 trillion
during the week ending Nov. 5 to reach Rp 39.88 trillion. (cst)