Central bank : Indonesian forex up to 111.29 bln USD

Indonesian central bank's foreign exchange reserve rose to 111.29 billion U.S. dollar at the end of November, from 110.30 billion U.S dollar at the end of October, the central bank said in a statement Tuesday. Growing investment and huge consumption have countered decline of exports amid global economic slowdown. Indonesian investment increased significantly by 25.1 percent to 81.8 trillion rupiah (some 8.5 billion U.S. dollars) in the third quarter on yearly basis, the Investment Coordinating Board Chairman M. Chatib Basri has said. Indonesia has regained credit rating upgrade to investment grade by Moody's and Fitch's, helping lure foreign funds to flow into the country. Indonesia's economic growth has accelerated by more than 6 percent for eight straight quarters ended in September. The country's trade deficit hit record at 1.54 billion U.S. dollars in October, as imports of oil and gas rose but exports remain declining amid weakening global demand, the National Statistic Bureau has announced. Indonesian Trade Minister Gita Wirjawan has said that the country's export was going to fall by 5 percent from the initial target of 203 billion U.S. dollars due to weakening global demand.