Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 5): Bank Negara Malaysia (BNM) said today its international reserves amounted to US$103 billion as at Sept 28, 2018. 

BNM said in a statement today the reserves position is sufficient to finance 7.4 months of retained imports and is 0.9 times the short-term external debt. 

"The reserves level has taken into account the quarterly adjustment for foreign exchange revaluation changes following the strengthening of the US dollar against various foreign currency reserve assets held by BNM.

"The short-term external debt is mostly accounted by banking institutions (69.3% of short-term external debt), reflecting the centralisation of liquidity management of Malaysian banks operating in the region and the sizeable presence of foreign banks in Malaysia. These banking institutions hold substantial external assets (RM293.0 billion), which can be drawn upon to meet their external obligations without creating a claim on BNM’s international reserves," BNM said.

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