Bank Negara international reserves at US$103.9b as at Sept 14

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KUALA LUMPUR (Sept 21): Bank Negara Malaysia said today its international reserves amounted to US$103.9 billion as at Sept 14, 2018. The central bank said the lower reserves level largely reflects portfolio outflows, as experienced in the region.

In a statement, Bank Negara said the reserves position is sufficient to finance 8.1 months of retained imports and is 0.9 time the short-term external debt.

"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 institutions hold substantial external assets (RM293 billion), which can be drawn upon to meet their external obligations without creating a claim on Bank Negara Malaysia's international reserves," Bank Negara said.