Bank Indonesia`s monetary progress report in its official website on Thursday, mentioned that the foreign exchange reserves were calculated based on the International Reserve and Foreign Currency Liquidity (IRFCL) concept and on the basis of current prices with Official Reserve Assets (ORA) format .
The IRFCL concept only covers a relatively illiquid asset and valuation using the exchange rates prevailing at the end of the reporting period.
Bank Indonesia`s monetary progress report also mentioned the money in circulation as per January 31, 2013 amounted to Rp664,01 trillion. Previous primary money amount per December 28, 2012 reached Rp704, 83 trillion.
This amount comprised banknotes and coins in circulation valued at Rp395,02 trillion. Earlier on December 28, 2012, the amount of circulated banknotes and coins was Rp439,72 trillion.
Besides, it also mentioned that Bank Indonesia`s outstanding balance on January 31, 2013 is Rp232, 59 trillion. Earlier the balance on December 28, 2012 amounted to Rp239,96 trillion.
The foreign exchange reserves is a net position of the government and the foreign exchange bank`s asset, which must be maintained for the purposes of international transactions. Foreign exchange is needed to finance imports and foreign debt. (A050/A014)
Editor: Kunto Wibisono
Copyright © ANTARA 2013
