Thursday 28 Mar 2024
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KUALA LUMPUR (Jan 6): Bank Negara Malaysia's (BNM) international reserves fell 1.87% to US$94.6 billion as at Dec 30, 2016, as compared to US$96.4 billion as at Dec 15.

In local currency terms, the international reserves were up 6.13% to RM424.2 billion versus RM399.7 billion previously. The latest reserves level has taken into account the adjustment for foreign exchange revaluation changes, said BNM in a statement today.

On a year-on-year basis, the reserves were 0.73% lower at US$94.6 billion versus US$95.3 billion as at end of 2015.

"The level of reserves remained supported by the current account surplus and inflows of foreign direct investment," the central bank added.

"These were, however, offset by direct investments abroad by Malaysian companies and some reversals of non-resident portfolio investments," it added.

According to the central bank, the latest international reserves level "remain ample to facilitate international transactions".

"The reserves position is sufficient to finance 8.8 months of retained imports from 8.2 months as at Dec 15, 2016. The reserves level is also adequate to meet external obligations with a reserves to short-term external debt coverage of 1.3 times," it added.

Of the reserves, US$87.6 billion was in foreign currency reserves, US$1.1 billion in special drawing rights or SDRs, US$1.4 billion in gold and US$800 million in International Monetary Fund (IMF) reserves position, with the remainder US$3.7 billion in other reserve assets.

Total assets as at Dec 30, 2016 were RM451.1 billion, while currency in circulation amounted to RM97.75 billion.

 

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