RI's forex reserves up

JAKARTA (JP): Bank Indonesia said on Wednesday that foreign exchange reserves in the fourth week of December 2000 increased by US$112.3 million to $29.39 billion from its level in the previous week.

The central bank said in a statement that the higher forex reserves was particularly due to foreign borrowing and oil revenue.

Bank Indonesia also said that the currency in circulation during the same period jumped to Rp 125.62 trillion, which was a Rp 177 billion increase from the level on Dec. 22, 2000.

Bank Indonesia also announced that the interest rate of the one-month SBI promissory notes increased to 14.73 percent during the Wednesday weekly auction, from 14.53 percent in the previous week.

The central bank said it accepted a huge Rp 46 trillion in bids at the auction, or 98.4 percent of the total bids. (rei)