Indonesia's forex reserves fall to $15.92 billion
JAKARTA (JP): Indonesia's net foreign reserves declined to US$15.92 billion in the week ending on May 14 from $16.05 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 debt.
However, it said net international reserves were still above the $15.4 billion target set by the International Monetary Fund (IMF).
Gross international reserves -- net foreign exchange reserves plus outstanding foreign exchange contracts -- decreased to $25.94 billion from $26.05 billion the previous week.
Net claims on the Indonesian Bank Restructuring Agency increased to Rp 14.26 trillion from Rp 14.23 trillion the previous week, while net claims on the government fell by Rp 1.99 trillion to Rp 122.62 trillion as a result of tax and oil revenue.
Open market operations expanded by Rp 451 billion to minus Rp 73.47 trillion.
The central bank said net domestic assets during the week fell by Rp 479 billion to minus Rp 43.99 trillion.
It noted the level was below the IMF-adjusted target of minus Rp 39.80 trillion. (udi)
Table A: Foreign reserves (in million dollars)
April 30 May 7 May 14
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Gross foreign assets 26,004.2 26,054.1 25,937.6
- 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 798.2 815.5 832.4
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Net international reserves 16,018.4 16,051.0 15,917.6
* 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)
April 30 May 7 May 14
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Reserve money 75,420 75,915 75,393
- Currency in circulation 50,456 50,772 49,921
- Deposits at central bank 24,222 24,425 24,721
Net international reserves
(Rupiah at constant rate) 120,138 120,383 119,382
(in million dollars) 16,018.4 16,051.0 15,917.6
Net domestic assets -44,718 -44,468 -43,989
- Net claims on government 124,001 124,611 122,617
- Net claims on IBRA 14,226 14,236 14,265
- Liquidity credits 22,078 22,431 23,257
(of which to Bulog) 6,781 6,781 7,241
- Open market operations -74,212 -73,927 -73,476
Source: Bank Indonesia