Indonesian foreign exchange reserves fall to $16 billion

JAKARTA (JP): The country's net foreign exchange reserves fell US$201.4 million to $16 billion as of Aug. 13.

Bank Indonesia announced in its latest weekly report that the drop was due to foreign debt payments.

Net forex reserves are still above the minimum target of $14.3 billion set by the International Monetary Fund (IMF), it said.

The gross foreign exchange reserves rose $261.8 million to $26.9 billion due to the loan disbursement from the IMF.

The central bank also said that the volume of the primary money dropped to Rp 77.47 trillion from Rp 79.35 trillion the previous week.

The drop in the primary money was partly due to the fall in net claims to the government to Rp 123.80 trillion from Rp 128.19 trillion the previous week, the central bank said. It added that the decline brought the primary money to below the indicative target of Rp 78.4 trillion.(hen)

Foreign reserves (in millions of dollars):

Gross foreign assets 26,587.5 (July 30); 26,683.2 (Aug. 6); 26,944.9 (Aug. 13)

Gross foreign liabilities 9,639.2 (July 30); 9,639.2 (Aug. 6); 10,101.4 (Aug. 13)

Net forward positions 0.0 (July 30); 0.0 (Aug. 6); 00 (Aug. 13)

Reserve against foreign currency deposits 833.3 (July 30); 829.2 (Aug. 6); 830.2 (Aug. 13)

Net international reserves 16,115.0 (July 30); 16,214.7 (Aug. 6); 16,013.3 (Aug. 13)

Monetary indicators (in billions of rupiah):

Base money 77,247 (July 30); 79,353 (Aug. 6); 77,472 (Aug. 13);

- Currency in circulation 50,690 (July 30); 51,390 (Aug. 6); 50,544 (Aug. 13)

- Deposits at central bank 25,818 (July 30); 27,204 (Aug. 6); 26,169 (Aug. 13)

Net international reserves (rupiah at constant rate) 120,863 (July 30); 121,610 (Aug. 6); 120,100 (Aug. 13) (in millions of dollars) 16,115 (July 30); 16,214.7 (Aug. 6); 16,013.3 (Aug. 13)

Net domestic assets -43,616 (July 30); -42,257 (Aug. 6); -42.623 (Aug. 13)

- Net claims on government 129,159 (July 30); 128,192 (Aug. 6) 123,802 (Aug. 13)

- Net claims on IBRA 14,441 (July 30); 14,441 (Aug. 6); 14,336 (Aug. 13)

- Liquidity credits 26,665 (July 30); 26,854 (Aug. 6); 26,843 (Aug. 13)

(credits to Bulog) 7,985 (Jult 30); 7,985 (Aug. 6); 7,833 (Aug. 13)

- Open market operations -89,412 (July 30); -88,355 (Aug. 6); -86,469 (Aug. 13)

Source: Bank Indonesia