Indonesia's Forex Reserves Likely Stay Over $100B This Year

        0342 GMT [Dow Jones] Indonesia's stock of foreign currency reserves will likely remain over $100 billion in 2014, significantly above the $47.9 billion trough during the recent global financial crisis and the 2013 low of $85.9 billion, says Moody's in its latest update on Indonesia. Bank Indonesia has been very careful in using its foreign exchange reserves by reducing intervention to defend the rupiah. The reserves were $112 billion end of October. The ratings company, which rates Indonesia Baa3 with stable outlook says things that could lead to a rating upgrade include increased fiscal space resulting from improved revenue collection or a lower subsidy bill, expectations of continued improvement in the macro-economic balance, reflected in balance of payments, inflation and the financial system metrics, continued progress in addressing infrastructure bottlenecks that contribute to an increase in potential growth, a deepening of local capital and credit markets to support domestic financing of government deficits. (i-made.sentana@wsj.com)
        (END) Dow Jones Newswires
        November 10, 2014 22:42 ET (03:42 GMT)