ID :
48263
Sat, 02/28/2009 - 21:25
Auther :
Shortlink :
https://www.oananews.org//node/48263
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RI`S FOREIGN EXCHANGE RESERVES US$51.06 BILLION
Jakarta, Feb 28 (ANTARA) - Indonesia's foreign exchange reserves as per February 18 stood at US$51.06 billion or equal to the value of 4.7 months of imports and foreign debt repayments.
"Our foreign exchange reserve are in a quite strong position," Made Sukada, head of Bank Indonesia's economic research and monetary culture directorate, said here on Saturday.
He dismissed perceptions that the country's foreign exchange reserves were so low it could cause a liquidity crisis. "I would say the probability of a liquidity crisis is almost nil," he said.
Therefore, he said, there was no reason at all to worry about the central bank's capacity for safeguarding the rupiah. "Any time we need to intervene in the money market, the funds to do so are available," he said.
He said the country's foreign exchange reserves had remained secure although they were under some pressure because of the country's obligations to service public and private foreign debts.
However, the burden of foreign debt was still within secure limits.***
"Our foreign exchange reserve are in a quite strong position," Made Sukada, head of Bank Indonesia's economic research and monetary culture directorate, said here on Saturday.
He dismissed perceptions that the country's foreign exchange reserves were so low it could cause a liquidity crisis. "I would say the probability of a liquidity crisis is almost nil," he said.
Therefore, he said, there was no reason at all to worry about the central bank's capacity for safeguarding the rupiah. "Any time we need to intervene in the money market, the funds to do so are available," he said.
He said the country's foreign exchange reserves had remained secure although they were under some pressure because of the country's obligations to service public and private foreign debts.
However, the burden of foreign debt was still within secure limits.***
