Indonesia's forex reserves reach nearly US$70b

The Jakarta Post, Jakarta | Thu, 02/11/2010 4:39 PM

Indonesia has recorded nearly US$70 billion in foreign exchange reserves as of January, up from $66.10 billion in December last year, says the finance minister.

“President [Susilo Bambang Yudhoyono] said our foreign exchange reserves were at $65 billion as of this morning, but now it has reached $69.59 billion, the highest over the past several months,” Finance Minister Sri Mulyani Indrawati said as quoted by kompas.com Thursday.

Indonesia lost some $10 billion in reserves in five months during the global crisis in 2008, but it managed to make up the losses thanks to the high rate of foreign investment in the domestic economy in 2009, she added. (nkn)