RI's forex reserves down

JAKARTA (JP): Bank Indonesia said on Wednesday the country's gross foreign exchange reserves declined by US$51.9 million to $28.59 billion in the first week of this month from the previous week.

The central bank said in its weekly indicator report that the fall was primarily due to the repayment of government overseas debts maturing during the week.

Gross foreign exchange reserves are defined as net foreign exchange reserves plus outstanding foreign exchange contracts.

Bank Indonesia said net foreign exchange reserves fell slightly to Rp 127.95 trillion during the week from Rp 127.99 trillion, based on an exchange rate of Rp 7,000 per U.S. dollar.(rei)