Forex reserves up $43 billion since 2008: BI
The Jakarta Post, Jakarta | Mon, 11/29/2010 12:18 PM
Bank Indonesia’s (BI) foreign exchange reserves have increased by US$43 billion
over the last two years, a top central bank official says.
BI intervened in the market during the US-led global financial crisis in 2008, causing
its reserves to slide to about $50 billion, BI deputy governor Hartadi Sarwono
said on Monday.
"We were concerned about exchange rate fluctuations, so we intervened, causing
reserves to slide," he said at an economic forum at the JW Marriott Hotel
in Jakarta.
Hartadi said BI’s reserves were now almost $93 billion, thanks to
"investor trust in the portfolio and direct investment".
"That's a remarkable achievement," he said. (est)
