Net international reserves down slightly
JAKARTA (JP): The government's servicing of its offshore debts caused Bank Indonesia's net international reserves (NIR) to decline by US$20.3 million to $14.19 billion as of July 31, from $14.22 billion the previous week.
The central bank said yesterday that the reserve level remained above the $13.4 billion minimum level allowed by the International Monetary Fund (IMF).
The government's servicing of the offshore debt installment, however, has expanded the central bank's net domestic assets to minus Rp 69.37 trillion as of July 31 compared to minus Rp 70 trillion the previous week, experiencing an expansion of Rp 678 billion. (aly)
Table A: Foreign Reserves (in million dollars)
July 17 July 24 July 31
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Gross foreign assets 18,807.5 19,536.6 19,527.4
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 3,921.2 4,896.4 4,896.4
Net forward positions -30.0 0.0 0.0
Reserve against
foreign currency deposits 417.2 422.2 433.3
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Net international reserves 14,439.1 14,218.0 14,197.7
* 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)
July 17 July 24 July 31
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Reserve money 70,546 72.130 72,605
- Currency in circulation 51,863 50,654 50,117
- Deposits at central bank 17,754 20,505 19,483
Net international reserves
(Rupiah at constant rate) 144,391 142,180 141,977
(in million dollars) 14,439 14,218 14,197
Net domestic assets -73,192 -70,050 -69,372
- Net claims on government -63,310 -58,154 -55,206
- Net claims on IBRA 138,991 140,443 140,356
- Liquidity credits 19,302 19,575 19,380
(of which to Bulog) 7,579 7,669 7,669
- Open market operations -74,962 -74,808 -72,232
Source: Bank Indonesia