Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Indonesia forex reserves rise to $117.2 billion on inflows - cenbank

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/07/2018 | 03:45am EST
An employee of money changer stands beside Indonesian rupiah banknotes in Jakarta

JAKARTA (Reuters) - Indonesia's foreign exchange reserves rose for a second consecutive month in November to their highest in three months, due to capital inflows, the central bank said on Friday.

Bank Indonesia (BI) said reserves increased to $117.2 billion at the end of November from $115.2 billion at the end of October. November reserves was equal to 6.5 months of imports, BI added.

The rupiah strengthened about 6 percent in November due to foreign investors' revived appetite for Indonesian assets, although the currency has weakened again recently.

Foreign investors bought 43.3 trillion rupiah ($2.99 billion) of fixed-income and equity assets during November, offsetting high domestic dollar demand to pay public debts, including for a maturing $1 billion sukuk, according to Satria Sambijantoro, Bahana Sekuritas economist.

"Latest FX reserves data should provide a reprieve for the rupiah, which reversed its strengths and depreciated by 1.6 percent this week," Sambijantoro said.

He predicted the rupiah will trade between 14,200-14,500 per dollar the rest of December.

The rupiah had been under pressure earlier in the year, trading at its lowest levels in 20 years when investors reduced holdings of emerging market assets due to rising U.S. interest rates and the U.S.-China trade war.

The central bank has raised interest rates six times by a total of 175 basis points since May to defend the currency.

(Reporting by Nilufar Rizki and Gayatri Suroyo; Editing by Richard Borsuk)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
04:00aEUROZONE : German IFO business climate worse than estimates at 98.5
03:56aGermany Narrowly Avoids Recession Thanks to Government Spending, Construction -- Update
DJ
03:51aEuro nears two-week high, Aussie rebounds after slide
RE
03:37aIndonesia's Pertamina plans investment increase to double refinery capacity
RE
03:32aCompletion of European banking union should be a priority - De Cos
RE
03:28aGlobal watchdog to put Cambodia on its money-laundering watchlist
RE
03:26aEU debates how and when to start trade talks with Trump
RE
03:25aAsia's surging fuel exports depress refining industry profits
RE
03:23aUS Bets on China's Special Envoy in Trade Talks
DJ
03:16aNEWS HIGHLIGHTS : Top Company News of the Day
DJ
Latest news "Economy & Forex"
Advertisement