BNM’s international reserves down 0.8% as at May 31

This article first appeared in The Edge Financial Daily, on June 8, 2018.
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KUALA LUMPUR: Bank Negara Malaysia’s (BNM) international reserves fell by a marginal 0.82% to US$108.5 billion (RM431.83 billion) as at May 31, from US$109.4 billion as at May 15.

In a statement yesterday, the central bank said the reserves position is sufficient to finance 7.6 months of retained imports and is 1.1 times the short-term external debt.

The foreign currency reserves, which made up the biggest part of the reserves, dipped to US$102.1 billion against US$102.8 billion on May 15.

Its International Monetary Fund reserves stood at US$800 million, while special drawing rights stood at US$1.2 billion.

In addition, gold was at US$1.6 billion of the international reserves and other reserve assets totalled US$2.8 billion.

As of May 31, total assets were RM448.55 billion, while currency in circulation stood at RM111.23 billion.