Asian Currencies Trade Sideways as Dollar Stabilizes, Yen Weakens Ahead of Japan Election 
India Services Sector Rebounds in January as New Business Gains Momentum: HSBC PMI Shows Growth 
BOJ Holds Interest Rates Steady, Upgrades Growth and Inflation Outlook for Japan 
Federal Reserve Faces Subpoena Delay Amid Investigation Into Chair Jerome Powell 
China Services PMI Hits Three-Month High as New Orders and Hiring Improve 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Paul Atkins Emphasizes Global Regulatory Cooperation at Fintech Conference 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
Dollar Steady as Fed Nomination and Japanese Election Shape Currency Markets 
Indonesia’s foreign reserves rose during the month of August; however, this is hardly surprising given that foreign inflows into equities and Indonesian government bonds amounted to USD 10 billion in the same period.
In lieu of this, Bank Indonesia (BI) has been building its foreign reserves, which suggests that the central bank wants to prevent excessive volatility of the rupiah, even when there is a clear push for further appreciation of the unit.
BI will continue to build up its reserves going forward. It is a step to continuously improve the economy’s macro risk profile, amid uncertainties in global financial markets. Alongside the rise in foreign reserves, the growth in short-term external debt has also been under control.
As of June 2016, short-term external debt stands at USD 41.5 billion, a tick lower than where it was in Jun15 at USD 42.9 billion (back in end-14, it stood at USD 45 billion). Meanwhile, foreign reserves-to- short-term external debt ratio is currently at circa 2.7x, way higher than a mere 2x back in mid-2013.
