Indonesian forex reserves down

Indonesian forex reserves down

JAKARTA: Indonesia's foreign exchange reserves slid to US$30.32 billion as of Sept. 30 from $30.41 billion as of Sept. 23, according to data published on Bank Indonesia's Website on Friday.

The Website didn't provide additional details.

Bank Indonesia usually attributes any fall in foreign exchange reserves to the payment of some of the government's offshore debts.

The central bank usually taps the reserves to help the rupiah if it is under selling pressure. Analysts estimated that around $5 billion of the reserves were used earlier this year to defend the rupiah, which fell to a four-year low in late August. -- Dow Jones