RI'S FOREX RESERVES REACH US$57.6 BILLION

Jakarta, July 3 (ANTARA) - Bank Indonesia's Acting Governor Miranda S Goeltom said the country's foreign exchange (forex) reserves in June reached US$57.6 billion, equal to 5.6 months of imports and the government's overseas debt payment.

The foreign exchange reserves slightly fell around US$180 million from US$57.934 billion in May, she said here on Friday.
"The foreign exchange reserves are around US57.6 billion. It's just slight fall, it's alright, it was used to pay debts and others," she said.

The improved global economy has prompted fund flows into Indonesia, including in the sectors of exports and imports, she said.

The present improved commodity prices had supported Indonesia's balance of payment which also strengthened the country's forex reserves, Goeltom said.

According to the BI's data, the ongoing transactions currently enjoyed surplus of US$2.2 billion, she said.

Meanwhile, since January 2009 until late June, the forex reserves in general continued to strengthen up to US$7 billion, she said.

The forex reserves in January 2009 reached US$50.869 billion and now it reached US$57.6 billion, she explained.

The fund flows into Indonesia, according to her, also affected positively to the strengthening of the rupiah.

During the first semester of 2009, the Indonesian currency's exchange rate has appreciated 9.9 percent.

The rupiah in January had traded at Rp10,895 per US dollar, and it even touched the level of Rp12,000 per US dollar in March 2009, she said.

However, on July 3, 2009, the local unit traded at Rp10,255 per US dollar according to BI's data.

The rupiah fell 65 points against the US dollar at the Jakarta interbank spot market here early Friday as investors purchased the greenback.

The Indonesian currency traded at Rp10,240-10,250 per US dollar, down 65 points from Rp10,175-Rp10,185 per US dollar at the market's close a day earlier.