Indonesia's forex reserves rise to $112bn end-Oct

JAKARTA: Indonesia's foreign exchange reserves rose to $111.97 billion by the end of October from $111.2 billion the previous month, Bank Indonesia said on Friday.

Foreign reserves were supported by portfolio inflows, central bank deputy governor Perry Warjiyo said.

The rupiah strengthened 0.37 percent during October against the dollar and closed at 12,080 per dollar.

The rupiah traded at 12,170 against the dollar on Friday.

Warjiyo expects even stronger inflows after the government decides on when it will raise fuel prices, seen as crucial to reducing the country's budget and current account deficits.