Forex reserves up to $16b

JAKARTA (JP): Indonesia's net foreign exchange reserves during the fourth week of September increased by US$216.5 million to $16 billion from the level of the previous week, Bank Indonesia reported on Monday.

The central bank said in its weekly report that the increase was particularly resulting from the disbursement of loans from the Japanese Exim Bank and from oil revenue.

It said that the net forex reserves position was still much larger than the minimum $14 billion adjusted net international reserves level set by the International Monetary Fund (IMF).

Bank Indonesia also said that gross forex reserves, which are net forex reserves plus outstanding forex contracts, increased by $215.1 million to $26.91 billion during the week. (rei)