RI forex reserves rise

JAKARTA (JP): Bank Indonesia said on Thursday that the country's gross foreign exchange reserves in the week ending on May 4 rose by US$144.1 million to $28.86 billion compared with $28.71 billion in the previous week.

The central bank said in its weekly report the rise was mainly due to earnings from oil and gas exports.

The bank said that the weighted average interest rate on one- month Sertifikat Bank Indonesia notes rose slightly at its weekly auction on Wednesday.

The one-month SBI notes stood at 16.26 percent, from 16.16 percent at last week's auction. Bank Indonesia also said it accepted Rp 15.5 trillion in bids at the auction, or 97.2 percent of total bids.