BNM’s international reserves slip 0.6% to US$102.8b as at mid-May

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KUALA LUMPUR (May 24): Bank Negara Malaysia’s (BNM) international reserves further slipped by RM600 million or 0.6% to US$102.8 billion as at May 15, from US$103.4 billion at the end of April.

The central bank said in a statement today that its reserves position is sufficient to finance 7.4 months of retained imports and is 1.1 time total short-term external debt.

Foreign currency reserves fell to US$96.6 billion, from US$97.3 billion, while International Monetary Fund reserves position and special depository rights were both unchanged at US$1.1 billion.

Gold remained at US$1.6 billion while other reserve assets returned to the US$2.4 billion level, from US$2.3 billion previously.

As at May 15, assets totalled RM447.84 billion, while currency in circulation was at RM109.66 billion.