JAKARTA, Sept 2 (Reuters) - Indonesia's foreign exchange reserves are estimated at $60.3 billion currently, a central bank official said on Wednesday, following the allocation of special drawing rights (SDRs) by the International Monetary Fund (IMF).
'Our foreign exchange reserves increased from $57.6 billion to $60.3 billion currently,' the central bank's senior deputy governor, Darmin Nasution, told a news conference.
Deputy governor Hartadi Sarwono said in a statement on Aug. 21 that the IMF has allocated 1.74 billion worth of SDRs for Indonesia, which was equivalent to $2.7 billion, as part of its efforts to strengthen global liquidity.
The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries' official reserves. Its value is based on a basket of four key international currencies, and SDRs can be exchanged for freely usable currencies.
The central bank, which is due to hold its policy meeting on Thursday, has cut its key interest rate by a total of 300 basis points since December last year in order to help drive domestic consumption and spur growth in Southeast Asia's biggest economy.
($1=10135 Rupiah)
(Reporting by Adriana Nina Kusuma; Writing by Sonya Angraini; Editing by Sara Webb)
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