World Business

Indonesia's foreign reserve reaches $71b

(Xinhua)
Updated: 2010-04-08 14:51
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JAKARTA - Indonesia's foreign exchange reserve reached $71.8 billion as of last week, the central bank announced in a statement on Thursday.

In early March, the central bank announced that the country's state reserve stood at $69.7 billion.

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Indonesia's foreign exchange reserve increased steadily in the recent months, resulting from the strong capital inflows and rise of exports as the global economic recovery continues.

The huge capital inflow helped strengthen rupiah, the government bond and stock.

Rupiah was traded at 9,064 on Thursday.

Indonesia's export is predicted to rebound to over 8.5 percent this year after reaching $116.5 billion in 2009, with a trade surplus of 151 percent to $19.63 billion from that of in 2008, according to the Trade Ministry.
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