RI forex reserves at $14.51b

JAKARTA (JP): Indonesia's net foreign exchange reserves increased to US$14.51 billion in the week ending on March 23 from $14.39 billion the previous week, Bank Indonesia announced on Thursday.

The central bank said the increase in foreign exchange reserves was the result of the government's oil and gas revenues.

The bank said gross international reserves, which are net foreign exchange reserves plus outstanding foreign exchange contracts, increased slightly to $24.04 billion from $23.95 billion.

Its net claim on the government also increased by Rp 209 billion to Rp 122.68 trillion.

Net claims on the Indonesian Bank Restructuring Agency (IBRA) decreased slightly to Rp 8.49 trillion.

The central bank added that the amount of base money fell by Rp 4.18 trillion to Rp 75.29 trillion from Rp 79.47 trillion, mainly due to a contraction in the open market operation. (02)