
Central Bank Governor Burhanuddin Abdullah said yesterday that non-performing loans in Indonesian national banks have risen by 8.3 per cent in the first quarter of 2004. However, despite of the growth in non-performing loans, and a capital adequacy ratio of between 8.0 and 12pc, the country's macro economics were still sound in the first three months of 2004. Inflation was only at 5.1pc while the rupiah's exchange rate was stable at an average of 8,469 rupiah to the dollar, Abdullah added. Meanwhile, the central bank's interest rate was at 7.43pc and foreign exchange reserves were at $37,42 billion.
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