Bank Negara Announces 0.6% Increase in International Reserves

Bank Negara Malaysia (BNM) or the Central Bank of Malaysia announced that its international reserves is now at US$104 million as of 15 July 2020. According to local news reports, the international reserves increased by 0.6% from US$103.4 at 30 June 2020.

"The reserves position is sufficient to finance 8.5 months of retained imports and is 1.1 times total short-term external debt," the central bank said in a statement today.

Foreign currency reserves, which make up the bulk of international reserves, fell 0.9% to US$95.7 billion from US$96.6 billion previously, while the International Monetary Fund Reserves stood unchanged at US$1.3 billion. Gold reserves were maintained at US$2.2 billion.

A local business daily, The Edge report that special drawing rights were also unchanged at US$1.1 billion, while notably other reserve assets rose 68.2% to US$3.7 billion from US$2.2 billion in the previous period.

BNM's total assets as at July 15 stood at RM490.99 billion, up from RM489.62 billion two weeks ago.

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