Indonesia's forex reserves decrease to $16.11 billion
JAKARTA (JP): Indonesia's net foreign reserves decreased to US$16.11 billion in the week ending July 30, from $16.14 billion the previous week, the central bank said in its latest weekly report.
Bank Indonesia attributed the decrease in the country's net foreign reserves to the repayment of foreign loans.
It said net international reserves were still above the $14.7 billion target set by the International Monetary Fund.
Gross international reserves -- net foreign exchange reserves plus outstanding foreign exchange contracts -- also decreased by $31.5 million to $26.59 billion.
Net claims on the Indonesian Bank Restructuring Agency slightly increased to Rp 14.44 trillion, from Rp 14.43 trillion the previous week, while net claims on the government were up Rp 2.86 trillion to Rp 129.16 trillion.
Open Market Operations contracted by Rp 1.24 trillion to minus Rp 89.41 trillion, due to the auction of central bank promissory notes (SBIs).
The central bank said net domestic assets during the week increased by Rp 2.58 trillion to minus Rp 43.62 trillion.
It noted the level was below the IMF-adjusted target of minus Rp 32.95 trillion. (udi)
Table A: Foreign reserves (in million dollars)
June 30 July 23 July 30
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Gross foreign assets 26,897.1 26,619.0 26,587.5
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 9,639.2 9,639.2 9,639.2
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 843.7 834.3 833.3
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Net international reserves 16,414.2 16,145.5 16,115.0
* 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 offshore and deposits parked at foreign banks to guarantee letter of credits.
Table B: Monetary indicators (in billion rupiah)
June 30 July 23 July 30
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Base money 77,351 74,900 77,247
- Currency in circulation 51,144 48,522 50,690
- Deposits at central bank 25,468 25,660 25,818
Net international reserves
(Rupiah at constant rate) 123,107 121,091 120,863
(in million dollars) 16,414.2 16,145.5 16,115
Net domestic assets -45,756 -46,191 -43,616
- Net claims on government 118,873 126,301 129,159
- Net claims on IBRA 14,438 14,437 14,441
- Liquidity credits 25,496 26,122 26,665
(of which to Bulog) 8,181 7,744 7,985
- Open market operations -78,133 -88,174 -89,412
Source: Bank Indonesia