Net forex reserves up

JAKARTA (JP); Bank Indonesia said that the country's net foreign exchange reserves increased by US$12.50 million to $18.06 billion in the fourth week of May compared to the previous week.

The central bank said in a statement that the increase was due particularly to higher oil revenue.

The bank also said that gross international reserves, which are net foreign exchange reserves plus outstanding foreign exchange contracts, as of May 23 were up by $42.20 million to $29.29 billion.

Bank Indonesia added that the amount of currency in circulation fell slightly by Rp 3.77 trillion to Rp 87.69 trillion. (rei)