Thursday, July 3, 2008
RI`s Forex Reserves up to $59.5 Billion
Source: Antara News

Jakarta (ANTARA News) - Indonesia’s foreign exchange reserves rose to US$59.5 billion until the end of June 2008 due to the issuance of global bonds and high oil prices.

The high global crude prices raised the country’s revenues from its oil exports, Bank Indonesia Deputy Governor Muliaman D Hadad said in a press conference on Thursday.

The government issued US$2.2 billion worth of global bonds last month.

Hadad said the foreign exchange reserves were enough to finance imports and repay the government’s offshore debts for 5.1 months.