The Indonesia's foreign exchange reserves dropped to the lowest point of 50.58 billion U.S. dollars in October 2008 from 50.9 billion dollars in June 2007, an official said.
"The drop is caused mainly by rupiah intervention policy in October when highly volatile. The reserve is also used for other things," the Indonesian Business daily on Thursday quoted Hartadi A. Sarwono, deputy head of the Indonesian central bank (BI), as saying.
The foreign exchange reserves rose to 52.9 billion U.S. dollars in September last year, and even increased to 56.9 billion U.S. dollars in December.
But when rupiah plunged to 11,800 against one U.S. dollar in the mid-October this year, the BI forced to use it to stabilize rupiah. The bank channeled 6.54 billion U.S. dollars into the market within a month.
Source: Xinhua
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