RI forex reserves surge

RI forex reserves surge

JAKARTA (JP): The country's net foreign exchange reserves
surged by US$121.20 million to $18.63 billion in the week ending
on April 7.

Bank Indonesia said in its latest weekly report on Wednesday
that the increase was mainly due to revenue from oil exports.

The central bank also said the country's gross foreign
exchange reserves increased by $119.90 million to $29.85 billion
from $29.72 billion the previous week.

The primary money in circulation rose by Rp 1.30 trillion in
the week to Rp 90.21 trillion from Rp 88.92 trillion in the
previous week due to an increase in the hard currency.

Another factor was an increase in the reserves balance of
commercial banks on deposit at the central bank. (hen)