RI forex reserves rise $286m

RI forex reserves rise $286m

JAKARTA (JP): The country's net foreign exchange reserves rose
by US$286 million to $16.81 billion in the week ending on Feb.
24.

Bank Indonesia said in its weekly report on Saturday the
increase was mainly due to a loan disbursement from the Asian
Development Bank and revenue from oil exports.

The central bank said the country's gross forex reserves also
increased to $28.10 billion from $27.82 billion the previous
week.

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

Money in circulation declined to Rp 82.84 trillion from Rp
85.82 trillion, partly due to the central bank's success in
tightening the money supply by about Rp 2.22 trillion through its
short-term SBI promissory notes.(hen)