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Record foreign reserves move Indonesia past 'fragile' status

Easing commodities slump and rupiah appreciation buoy economy and lure investors

Bank Indonesia's headquarters in Jakarta

SINGAPORE -- With the rupiah strengthening against major currencies and the country's foreign reserves soaring to a record high in May, Indonesia hopes to leave behind the "fragile five" moniker given to several emerging economies heavily dependent on foreign investment. Put together, all the good news may coax even more foreign investors to the local stock market. 

Bank of Indonesia said that the expansion of foreign reserves would help stabilize our economy, as it announced earlier this month the highest-ever level of foreign reserves, at $124.9 billion, for May.

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