KUALA LUMPUR (July 6): Bank Negara Malaysia announced today that its international reserves has fallen 2.97% to US$104.7 billion as at June 29, from US$107.9 billion as at June 14.

"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 Bank Negara Malaysia," the central bank said in a statement.

The current reserves position is sufficient to finance 7.5 months of retained imports and is 1.1 times the short-term external debt.

Foreign currency, the biggest portion, declined to US$98.3 billion from US$101.4 billion as at June 14, while the International Monetary Fund reserves position inched up to US$900 million from US$800 million.

Special drawing rights was maintained at US$1.2 billion, though gold slipped to US$1.5 billion from US$1.6 billion; other reserve assets also retreated to US$2.8 billion from US$2.9 billion.

The bank's total assets stood at RM449.37 billion as at June 29, while currency in circulation was at RM109.34 billion.