Highlights of March’s Reserve Assets
March’s reserve assets were at USD124.5 billion, higher than February’s USD123.3 billion and the biggest amount since May 2018 (11-month high). Oil& gas forex receipts and other forex receipts were potent drivers to March’s figure.
The Upbeat Global Crude Prices & A Flood of Foreign Inflows
March’s creeping-higher crude prices were attributable to March’ oil& gas forex receipts. In March, Brent Crude price inclined at around 4% as its price settled at USD68.39 per barrel per March 26th, 2019. Another to upbeat crude prices, a flood of foreign inflows into sovereign bonds, stocks, and FDI contributed to March’s figure. Foreign inflows, on YTD basis, amounted to IDR90 trillion until March.
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