Foreign Exchange Reserves Nearing US$100 Bn

"The amount equals 7.1 months of imports and foreign debts"

Rabu, 5 Januari 2011, 16:10 Heri Susanto, Syahid Latif
Bank Indonesia
Bank Indonesia (VivaNews/ Nur Farida)

VIVAnews - Bank Indonesia announced that Indonesia's foreign exchange reserves by late December 2010 neared US$100 billion.

"Foreign exchange reserves by late December 2010 hit US$96.2 billion," said BI Governor Darmin Nasution in Jakarta, Jan 5.

Compared to November, the foreign exchange reserves rocketed by US$4 billion. "The amount equals 7.1 months of imports and foreign debts," he said.

According to Darmin, capital inflow chipped in foreign exchange reserves in the form of both direct and indirect investment.

According to an economist at the Standard Chartered Bank, Fauzi Ichsan, the central bank will be more confident in monitoring the rupiah exchange rate.


Translated by: Bonardo Maulana W

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Indonesia is such a huge nation and $100 billion isnt really that much for a nation of its size this is good news for stability of the country.
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