RI forex reserves drop

RI forex reserves drop

JAKARTA (JP): Indonesia's net foreign exchange reserves
dropped by US$31 million to $16.4 billion as of Dec. 30 from
$16.7 billion a week earlier.

Bank Indonesia said in its weekly report on Monday that the
drop was due to payment of the transportation cost for
Indonesia's haj pilgrims to Mecca and repayment of foreign debts.

The country's net international reserves are well above the
target of $14 billion agreed to with the International Monetary
Fund.

The central bank said the country's gross foreign exchange
reserves fell to $27.31 billion from $27.6 billion in the
previous week.

The volume of primary money rose by Rp 15.08 trillion to Rp
101.79 trillion as of Dec. 30 from Rp 86.71 trillion, due to an
increase in the money supply ahead of the year-end holidays.
(hen)