Bank Negara’s international reserves stay above RM400b

Bank negara malaysia, BNM

PETALING JAYA: Bank Negara Malaysia (BNM) has continued to maintain its international reserves above the RM400 billion mark.

Last Friday, BNM reported its international reserves stood at RM405.6 billion as at Oct 14. This followed its previous report which showed the amount was RM405 billion as at Sept 30.

It was the first time in six months that BNM had breached the RM400 billion mark.

Over the previous six months – March 31 through Sept 15 – BNM had reported its international reserves being between RM380 billion and RM392 billion.

Last March 31, Bank Negara had reported that the international reserves took a massive drop to RM381.6 billion from the RM412.3 billion reported as at March 15.

In its latest report, BNM also said the RM405.6 billion in reserves would be sufficient to finance 8.5 months of retained imports and is 1.2 times the short-term external debt.

BNM’s international reserves comprises foreign currency reserves, International Monetary Fund reserves, Special Drawing Rights (SDRs), gold, and other reserve assets.