RI forex reserves slide to US$15.86b
JAKARTA (JP): Net foreign exchange reserves declined to US$15.86 billion on April 15 from $15.93 billion on April 7, Bank Indonesia (BI) announced in a weekly report.
The central bank said repayment of foreign loans contributed to the slight fall in net foreign exchange reserves.
Nevertheless, BI said the level was still above the International Monetary Fund (IMF) adjusted net international reserves of $11.3 billion.
Gross forex reserves also declined to $25.84 billion on April 15 from $25.93 billion on April 7, the bank said.
BI reported that reserve money dropped by Rp 2.4 trillion ($278 million) to Rp 74.7 trillion.
The bank explained the fall was partly caused by a drop in currency in circulation together with reduced deposits at the central bank.
BI said net domestic assets declined by Rp 1.8 trillion to minus Rp 44.22 trillion.
The bank said the level of net domestic assets was still below the IMF adjusted target of minus Rp 32.15 trillion. (rid)
Table A: Foreign reserves (in million dollars)
March 31 April 7 April 15
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Gross foreign assets 25,817.4 25,926.0 25,838.4
- 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 799.9 806.3 793.3
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Net international reserves 15,829.9 15,932.1 15,857.5
* Liquid gross foreign assets include gold, foreign securities, offshore deposits and special drawing rights.
** Other gross foreign assets include export drafts, deposits i,n 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)
March 31 April 7 April 15
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Reserve money 78,749 77,116 74,708
- Currency in circulation 52,660 52,514 49,799
- Deposits at central bank 25,334 23,850 24,100
Net international reserves
(Rupiah at constant rate) 158,299 119,491 118,931
(in million dollars) 15,829.9 15,932.1 15,857.5
Net domestic assets -79,550 -42,375 -44,223
- Net claims on government 122,340 127,295 124,963
- Net claims on IBRA 8,161 8,026 8,245
- Liquidity credits 19,987 20,123 21,348
(of which to Bulog) 5,567 5,567 6,445
- Open market operations -61,044 -70,600 -74,467
Source: Bank Indonesia