RI forex reserves decline

JAKARTA (JP): Indonesia's gross foreign exchange reserves fell to US$28.59 billion in the week ended on May 23 from $28.62 million the previous week, Bank Indonesia said in its weekly report.

Bank Indonesia said base money, which includes the currency in circulation and commercial bank funds held by the central bank, saw an increase of Rp 4.26 trillion to Rp 107.74 trillion from Rp 103.48 trillion the previous week.

The central bank also said the weighted average interest rate on the one-month Bank Indonesia certificate (SBI) increased slightly to 16.38 percent at the weekly auction on Wednesday,

The central bank said it received Rp 16.2 trillion worth of bids at the auction.

The rate of the three-month SBI note rose to 16.28 percent from 15.79 percent.(hen)