RI net forex reserves fall again
JAKARTA (JP): Indonesia's net foreign exchange reserves dropped to US$14.4 billion in the week ending on March 15 from $14.62 billion the previous week, Bank Indonesia announced on Wednesday.
The central bank said that the fall in foreign exchange reserves was the result of the government's repayment of foreign debt.
The central bank said that gross international reserves, which are net foreign exchange reserves plus outstanding foreign exchange contracts, dropped slightly to $23.94 billion from $24.15 billion.
The central bank's net claim on the government also increased by Rp 647 billion to Rp 122.47 trillion.
The central bank also reported its net claim on the Indonesian Bank Restructuring Agency (IBRA) increased to Rp 8.5 trillion from Rp 7.01 trillion due to the additional disbursement of the central bank's liquidity support for domestic banks under IBRA's supervision.
The central bank added that the amount of currency in circulation fell slightly to Rp 79.47 trillion from Rp 76.52 trillion. (hen)
Table A: Foreign reserves (in million dollars)
Feb. 26 Mar. 5 Mar. 15
---------------------------------------------------------
Gross foreign assets 24,277.3 24,150.6 23,945.6
- Liquid reserves * - - -
- Other reserves ** - - -
Gross foreign liabilities 8,728.8 8,728.8 8,728.8
Net forward positions 0.0 0.0 0.0
Reserve against
foreign currency deposits 798.6 798.7 818.0
---------------------------------------------------------
Net international reserves 14,749.9 14,623.1 14,398.8
* 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)
Feb. 26 Mar. 5 Mar. 15
--------------------------------------------------------
Reserve money 77,703 76,520 79,474
- Currency in circulation 49,504 50,885 51,159
- Deposits at central bank 27,515 24,850 27,509
Net international reserves
(Rupiah at constant rate) 147,499 146,231 143,988
(in million dollars) 14,749.9 14,623.1 14,398.8
Net domestic assets -69,796 -69,711 -64,514
- Net claims on government 120,935 121,830 122,477
- Net claims on IBRA 5,984 7,012 8,513
- Liquidity credits 20,267 20,348 20,643
(of which to Bulog) 6,990 6,821 6,654
- Open market operations -60,490 -61,592 -62,171
Source: Bank Indonesia