Net int'l reserves increase to US$14.21b
JAKARTA (JP): Bank Indonesia's (BI) net international reserves rose by US$299.8 million to $14.21 billion in the week ending Oct. 30 from the previous week's $13.91 billion, the central bank announced on Wednesday.
Bank Indonesia attributed the surge in the net international reserves to the disbursement of loans pledged by the Japanese Overseas Economic Cooperation Fund (OECF) and foreign exchange revenue from of oil and natural gas exports.
The central bank said in a statement that the level was above the adjusted target of $11.67 billion.
It said that its net domestic assets as of Oct. 30 were still below the Rp 45.20 trillion indicative target set by the International Monetary Fund (IMF) although it had increased by Rp 1.85 trillion to minus Rp 71.58 trillion.
BI said its net claims on the Indonesian Bank Restructuring Agency (IBRA) rose by Rp 84 billion to Rp 135.82 trillion in the week ending Oct. 30 compared to the previous week's level of Rp 135.74 trillion. (aly)
Table A: Foreign reserves (in million dollars)
Oct. 15 Oct. 23 Oct. 30
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Gross foreign assets 21,319.2 21,424.7 21,743.1
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 6,805.2 6,805.2 6,805.2
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 666.2 706.8 725.4
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Net international reserves 13,847.8 13,912.7 14,212.5
* 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)
Oct. 15 Oct. 23 Oct. 30
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Reserve money 69,884 69,394 70,541
- Currency in circulation 47,888 46,536 47,956
- Deposits at central bank 21,347 22,211 21,913
Net international reserves
(Rupiah at constant rate) 138,478 139,127 142,125
(in million dollars) 13,847.8 13,912.7 14,212.5
Net domestic assets -68,594 -69,733 -71,584
- Net claims on government -29,050 -26,821 -25,424
- Net claims on IBRA 138,487 135,744 135,828
- Liquidity credits 16,578 16,527 15,603
(of which to Bulog) 6,284 6,240 6,305
- Open market operations -60,968 -58,377 -57,488
Source: Bank Indonesia