Forex Blog: Currency Trading News & Analysis.

February 19th 2007

Indonesia’s forex reserves near $50 Billion

China and Japan are no longer alone in their unofficial quest to pile up foreign exchange reserves. Indonesia just announced that its reserves have surpassed the $45 Billion mark, and to the surprise of no one, these reserves are largely held in USD-denominated assets. The announcement is significant for a few reasons. First, it means that Asian nations not lumped in with the Asian Tiger economies – Taiwan, Hong Kong, South Korea, and Singapore – have begun to reap some of the fringe benefits of economic growth, notably surging forex reserves. Second, it is symbolic of the fact that the USD remains the world’s de facto reserve currency. At the same time, it should make USD bulls quiver, because such countries could conceivably pile out of the USD just as quickly as they have piled in.

Read More: Indonesia says forex reserves hit 45 bln USD

SocialTwist Tell-a-Friend

Sponsored Offers

FREE Daily Email Updates

Enter your email address:

Delivered by FeedBurner

Have Questions? Want to Share Your Review?

Be heard. Please share your reviews today!

Neighboring Posts

© 2004 - 2018 Forex Blog.org. Currency charts © their sources. While we aim to analyze and try to forceast the forex markets, none of what we publish should be taken as personalized investment advice. Forex exchange rates depend on many factors like monetary policy, currency inflation, and geo-political risks that may not be forseen. Forex trading & investing involves a significant risk of loss.