RI forex reserves fall to US$14.84 billion

JAKARTA (JP): Bank Indonesia announced on Thursday its net international reserves dropped by US$414.3 million to $14.84 billion as of Feb. 23 from the Feb. 15 level of $15.25 billion.

The decrease was due to the repayment of part of the government's foreign debt and the payment of a quarterly contribution to the International Monetary Fund (IMF), the central bank said in its regular weekly report

It added that net reserves remained above the minimum level of $11.19 billion set by the IMF.

BI reported that gross foreign exchange reserves, which include net foreign exchange reserves plus outstanding contracts, fell by $416.9 million to $24.36 billion during the same week.

Net domestic assets stood at minus Rp 75.2 trillion as of Feb. 23, up by Rp 5.28 billion from the previous week, but still below the IMF adjusted target of minus Rp 37.94 trillion, BI said.

It said net claims on the Indonesian Bank Restructuring Agency (IBRA) increased by Rp 1.9 trillion to Rp 115.05 trillion. (gis)