RI forex reserves rise to $16 billion
JAKARTA (JP): The country's net foreign exchange reserves rose by US$202.1 million to $16 billion in the week ending April 30, Bank Indonesia announced in its weekly report.
The central bank said on Tuesday that the increase resulted from the government proceeds from the privatization of several state companies and revenues from oil and gas sales.
BI said the level was above the IMF adjusted net international reserve of $14.3 billion.
Gross forex reserves, that is, net foreign exchange plus outstanding foreign exchange contracts, increased by $199.4 million to $26 billion during the week, BI said.
Net claims on the Indonesian Bank Restructuring Agency (IBRA) increased by Rp 7 billion to Rp 14.2 trillion from the level in the previous week, it said.
The central bank's open market operations of selling short- term promissory notes and rupiah in currency markets resulted in an expansion of Rp 1.8 trillion.
Consequently, the central bank added, net domestic assets during the week rose by Rp 223 billion to negative Rp 44.72 trillion.
It noted the level was below the IMF adjusted target of negative Rp 32.19 trillion. (gis)
Table A: Foreign reserves (in million dollars)
April 15 April 23 April 30
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Gross foreign assets 25,838.4 25,804.8 26,004.2
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 9,187.6 9,187.6 9,187.6
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 793.3 800.9 798.2
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Net international reserves 15,857.5 15,816.3 16,018.4
* Liquid gross foreign assets include gold, foreign securities, offshore deposits and special drawing rights.
** Other gross foreign assets include export drafts, deposits in the branches of domestic banks in offshore and deposits parked at foreign banks to guarantee letter of credits.
Table B: Monetary indicators (in billion rupiah)
April 15 April 23 April 30
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Reserve money 74,708 73,671 75,420
- Currency in circulation 49,799 48,182 50,436
- Deposits at central bank 24,100 24,722 24,222
Net international reserves
(Rupiah at constant rate) 118,931 118,622 120,138
(in million dollars) 15,857.5 15,816.3 16,018.4
Net domestic assets -44,223 -44,951 -44,718
- Net claims on government 124,963 124,620 124,001
- Net claims on IBRA 8,245 14,219 14,226
- Liquidity credits 21,348 21,361 21,816
(of which to Bulog) 6,445 6,781 6,781
- Open market operations -74,467 -75,994 -74,212
Source: Bank Indonesia