RI`s forex reserves up $0.13 bln in October

Jakarta, Nov 8 (ANTARA) - Indonesia`s foreign exchange reserves rose slightly US$0.13 billion on October 31, 2012 to US$110.30 billion from US$110.17 billion on September 30, 2012, according to Bank Indonesia.

The foreign exchange reserves were computed using an International Reserve and Foreign Currency Liquidity (IRFCL) concept based on the current prices with official reserve asset (ORA) format, the central bank said in a monetary development report released on Thursday.

Foreign exchange reserves are net foreign assets of the government and foreign exchange banks held for the purpose of international transactions. They are needed to finance imports and repay foreign debts.

The report also noted that the amount of base money stood at Rp648.11 trillion as of October 31, 2012 compared to Rp638.87 trillion a month earlier.(*)