Bank Negara's international reserves have declined further to US$94.5 billion (RM356.4 billion) as at Aug 14 compared to US$96.7 billion (RM364.7 billion) on July 31.

"The reserves' position is sufficient to finance 7.5 months of retained imports and is one time the short-term external debt," the central bank said in a statement today.

The end of July was the first time Bank Negara's international reserves dipped under US$100 billion in recent years.

The international reserves were at US$100.5 billion on July 15.

According to Reuters, Bank Negara had been selling the US dollar and buying ringgit since June.

It said this was an attempt to stem the ringgit slide against the US dollar which today stood at RM4.16 to a US dollar.