BI predicts forex reserves to reach US$81 billion

Jakarta (ANTARA News) - Bank Indonesia predicts the foreign exchange reserves would reach US$81 billion by the end of this year following continued improvement in the country`s economic growth.

"We are predicting the foreign exchange reserves will reach above US$80 billion by the end of this year or at least US$81 billion depending on the global economic situation," the central bank`s governor Darmin Nasution said here on Wednesday.

BI deputy governor Budi Mulya meanwhile said based upon BI`s exercise last month the foreign exchange reserves could reach more than US$81.3 billion or more than 6.4 months of imports and payments for the government`s short-term debts.

Darmin said until May Indonesia`s foreign exchange reserves reached US$74 billion and is predicted to continue to rise following the country`s good economic fundamentals compared to those of other countries.

"With the higher economic growth and better interest rates compared to those in developed countries capital inflows would continue," he said.

He said however that it was not impossible for the positive sentiment to be hampered by events that could create negative sentiment in the market such as the recession event in Dubai which was continued in Greece.(*)

source:
http://gresnews.com/ch/News-En/cl/Indonesias/id/104362/BI+predicts+forex+reserves+to+reach+US81+billion