Indonesia`s foreign exchange reserves rise to US$1.49 billion

Indonesia`s foreign exchange reserves rise to US$1.49 billion

(ANTARA/Rosa Panggabean)

"Central bank deposits increased to Rp239.96 trillion in December."
Jakarta (ANTARA News) - Indonesia`s foreign exchange reserves, as of December 28, 2012, reached US$112.78 billion, up US$1.49 billion from US$111.29 billion at the end of the previous month.

"The reserves are calculated using the concept of International Reserve and Foreign Currency Liquidity (IRFCL) at current prices, under the Official Reserve Assets (ORA) format," said Bank Indonesia in its Monetary Aggregate Progress Report received here on Tuesday.

"Primary money, as of December 28, 2012, stood at Rp704,83 trillion, much higher than the previous month`s Rp647.98 trillion," the report stated.

"Banknotes and coins in circulation in December rose to Rp439.72 trillion, compared with the previous month`s Rp392.61 trillion," it pointed out.

"Central bank deposits increased to Rp239.96 trillion in December, from Rp221.98 trillion in the previous month," the report added.

Foreign exchange reserves are considered as assets of the government and foreign exchange banks, which must be maintained for the purposes of international transactions.

Foreign exchange is needed to finance imports and foreign debt.

The management of foreign exchange is made through various types of transactions, such as selling and buying foreign exchange, among other things.
(U.A050/INE/KR-BSR/B003)

Comments