Indonesia's currency reach $105.2bn

Indonesia recorded foreign currency reserves at 105.2 billion U.S. dollars in February this year, or 3. 6 billion U.S. dollars lower than 108.8 billion U.S. dollars recorded a month earlier, a statement released by the Indonesian central bank (BI) said here Thursday. The statement said that the foreign currency reserves figure in February was above the international adequacy standard as it is able to finance foreign debts and imports in 5.7 months. The central bank estimated that deficit in the ongoing transaction would be declining in the first quarter this year due to recovery in global commodity prices that would eventually increase exports. On the other hand, imports on non oil and gas commodities would be declining amid the much-estimated increasing imports on oil and gas in the period. Meanwhile, the flow of foreign capital into the country both in direct investment (FDI) and portfolios is estimated to increase amid increasing needs on foreign currencies in domestic market to finance, among other, oil and gas imports. The central bank also learned that the exchange rate of Indonesian currency Rupiah against U.S. dollar was improved by 0. 31 percent in February, making it stand at 9,680 rupiah per one U. S. dollar, compared to earlier in the year.