FOREX reserves increased about USD 2bn to USD 112bn in January.

By bne IntelliNews February 15, 2012
Indonesia's foreign exchange (FOREX) reserves increased by about USD 2bn to USD 112bn during January this year as compared to USD 110.123bn registered last year. As reported by Asia Pulse the increase in reserves was large enough to finance imports and foreign debt repayments for 6.2 months. Head of the country's central bank, Bank Indonesia`s Public Relations Bureau, Difi A Johansyah, expect the country's balance of payment (BOP) to record a surplus during the first quarter of this year. Current transactions, however, are expected to incur a deficit, along with declining export growth, despite strong domestic demand driving imports.

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