FOREIGN EXCHANGE RESERVES SAFE: BI

Jakarta, Oct 5 (ANTARA) - Senior Deputy Governor of Bank Indonesia (BI) Miranda S Goeltom said the country's foreign exchange reserves were still at a safe position so that there was no need to worry about the U.S. financial crisis.
"Up to now, the position of the country's foreign exchange reserves is still at very safe level," the central bank senior deputy said here on Sunday.
She said fluctuation in foreign exchange reserves were something normal as far as it did not experience a drastic drop.
Miranda said the central bank would continue to maintain foreign exchange reserves in order to guarantee that the country's economy would remain safe. For this purpose, BI would keep an eye on the developments of the United States financial turmoil.
Referring to the weakening of the rupiah value against the dollar, she said that the values of global currencies were also weakening so that the rupiah would not go in the adverse direction of what was happening today.
"It is just the same as what was said by the BI governor that Indonesia should not go against the direction of the world developments. It is not normal to see if global currencies are weakening but the rupiah is strengthening," she said.
Yet, she promised that BI would continue to maintain the volatility of the rupiah so that it would not be too drastic and sharp.
"BI, if needed, is ready to interfere in the market in order to secure the rupiah fluctuations," she said.