Forex reserves slide to $15.89 billion
JAKARTA (JP): Bank Indonesia said on Tuesday its net foreign exchange reserves decreased by US$35 million to $15.89 billion on June 4 compared to the previous week's level.
The central bank said in its weekly report that the drop was mainly due to the repayment of government foreign debts.
BI said its net international reserves were still above the IMF-adjusted target of $15.4 billion despite the drop.
The bank said gross foreign exchange reserves during the week also dropped by $18.5 million to $25.95 billion.
The bank said net claims to the government during the first week of June fell by Rp 2.16 trillion due to the state revenue derived from the selling of governments shares in the listed state telecommunications company PT Telkom of about Rp 3.2 trillion.
Net domestic assets stood at minus Rp 41.79 trillion as of June 4, an increase of Rp 1.35 trillion from the previous week, but still well below the adjusted target set by the IMF, BI added. (cst)
Table A: Foreign reserves (in million dollars)
May 21 May 31 June 4
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Gross foreign assets 26,016.0 25,967.3 25,948.8
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 9,187.6 9,187.6 9,187.6
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 844.3 849.7 866.3
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Net international reserves 15,984.1 15,930.0 15,894.9
* Liquid gross foreign assets include gold, foreign securities, offshore deposits and special drawing rights.
** Other gross foreign assets include export drafts, deposits in the branches of domestic banks in offshore and deposits parked at foreign banks to guarantee letter of credits.
Table B: Monetary indicators (in billion rupiah)
May 21 May 31 June 4
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Reserve money 73,950 76,336 77,418
- Currency in circulation 48,556 51,006 52,416
- Deposits at central bank 24,685 24,575 24,325
Net international reserves
(Rupiah at constant rate) 119,881 119,475 119,212
(in million dollars) 15,984.1 15,930.0 15,894.9
Net domestic assets -45,931 -43,139 -41,794
- Net claims on government 119,275 121,239 119,080
(government bonds) 164,536 164,536 218,316
- Liquidity supports * 26,819 26,836
(net claims on IBRA) * 14,289 14,414 14,419
- Liquidity credits 24,191 24,758 24,909
(extended to Bulog) 7,867 8,201 8,201
- Open market operations -73,229 -74,030 -70,835
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* Not including interest
Source: Bank Indonesia