Indonesia foreign reserves jumped to $104.54b in February

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Governor of BI Agus Martowardojo

JAKARTA (TheInsiderStories) – Indonesia’s foreign reserves position as of end Febuary 2016 stood at US$104.54 billion, up from end of January level at $102.1 billion.

“Our reserved more stronger than previous month,” Governor of Bank Indonesia (BI) told press at the sidelines of hearing with parliament without give more details.
Based on BI statement announced on March 7, this development was attributable to foreign exchange receipts, among other from government oil and gas revenues and foreign debt withdrawals as well as auction result of Bank Indonesia (BI) foreign exchange bills, which are more than offset the use of foreign exchange for government foreign debt payments to the use of foreign exchange for government foreign debt payments, including principal and coupon of global bond matured in the period.
The reserve can adequately cover 7.5 months of imports or 7.2 months of imports and servicing of government external debt repayment, well above the international standards of reserves adequacy at 3 months of imports. Bank Indonesia considers the position of the reserve is able to strengthen the resilience of the external sector and maintain the sustainability of Indonesian economic growth.
BI DATA
No Items 29 Jan 2016 29 Feb 2016
1 Reserve Money 884,788 880,077
among others : Currency in circulation 528,534 511,210
among others : Bank Deposit at BI 285,308 289,438
2 Net Foreign Assets 1) 1,375,746 1,363,059
3 Net Domestik Assets 2) -490,958 -482,982
among others : Net claims on Central Government 158,117 186,550
among others : Liquidity Credits 3) 57 58
among others : Open Market Operation -234,626 -282,002
4 Memorandum Items’ : International Reserves (in million US$) 102,134 104,544

source by Bank Indonesia

 

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Source: The Insiderstories
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