RI foreign exchange reserves down to $14.21b
JAKARTA (JP): Indonesia's net foreign exchange reserves declined by US$1.8 million to $14.21 billion in the week ending Nov. 30 due mainly to repayment of part of the government's overseas debt.
Bank Indonesia said in a statement released on Thursday that reserves were still well above the adjusted target agreed with the International Monetary Fund (IMF), which stands at $11.26 billion.
Gross foreign exchange assets rose by $18 million to $22.77 billion over the same period, the statement said.
The bank said that reserves rose by Rp 2.27 trillion to Rp 73.07 trillion on Nov. 30 due mainly to an increase in government expenditure on civil servants' salaries and the repayment of sovereign debt.
BI's net claims on the Indonesian Bank Restructuring Agency (IBRA) declined by Rp 96 billion to Rp 135.93 trillion, while liquidity credits increased by Rp 45 billion to Rp 17.14 trillion, mainly as a result of increased extended to cooperatives and small-scale farmers. (aly)
Table A: Foreign reserves (in million dollars)
Nov. 13 Nov. 23 Nov. 30
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Gross foreign assets 22,762.9 22,752.5 22,770.5
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 7,765.1 7,765.1 7,765.5
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 764.3 775.2 795.0
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Net international reserves 14,233.5 14,212.2 14,210.4
* 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)
Nov. 13 Nov. 23 Nov. 30
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Reserve money 71,411 72,791 73,076
- Currency in circulation 46,980 45,557 46,749
- Deposits at central bank 23,707 26,617 25,686
Net international reserves
(Rupiah at constant rate) 142,335 142,122 142,104
(in million dollars) 14,233.5 14,212.2 14,210.4
Net domestic assets -70,924 -69,331 -69,028
- Net claims on government -32,441 -27,448 -25,174
- Net claims on IBRA 135,753 136,032 135,936
- Liquidity credits 16,837 17,095 17,140
(of which to Bulog) 6,219 6,301 6,301
- Open market operations -54,346 -57,007 58,469
Source: Bank Indonesia