Indonesia's Foreign Currency Reserves Breaks New Record
    2010-11-25 14:12:28     Xinhua      Web Editor: Yu
A senior official at Indonesian central bank (BI) said on Thursday that the country's foreign currency reserve has broken a new record to 91.8 billion U.S. dollars.
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A senior official at Indonesian central bank (BI) said on Thursday that the country's foreign currency reserve has broken a new record to 91.8 billion U.S. dollars.

Sugeng, BI Research and Development Director, said that the record-breaking foreign currency reserves were recorded late last month. He added that the country would enjoy large surplus in its terms of payment this year.

Sugeng also said that Indonesia also sees another positive parameter in its economy with record-breaking performance in its stock market as the index of joint stock price (IHSG) has reached 3,725 in the third week this month.

Combining with other positive economic parameters disclosed earlier, Sugeng estimated that Indonesia's economic growth may reach at a range of 6 to 6.5 percent next year.

Furthermore, the senior official in BI's research and development department estimated that inflation rate in December would reach 5 plus minus 1 percent, or still lower if compared to the ones in the previous months.

The high inflation in the recent months were due to the weather anomaly that prompting a longer rainy season that eventually disrupting the harvest of staple foods in the country.

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