Bank Negara’s reserves fall to US$94.6b as of Dec 30

comments         Published     Updated

Malaysia’s central bank said today that gross international reserves stood at US$94.6 billion as of Dec 30, lower than on Dec 15's level of US$96.4 billion.

Bank Negara Malaysia (BNM) said reserves were sufficient to finance 8.8 months of retained imports and were 1.3 times the short-term external debt.

The central bank said the reserve levels took into account the adjustment for foreign exchange revaluation changes, and remained supported by the current account surplus and inflows of foreign direct investment.

“These were, however, offset by direct investment abroad by Malaysian companies and some reversals of non-resident portfolio investments,” its statement said.

Malaysia’s reserves fell to an eight-month low at end-November, as the central bank imposed measures to boost liquidity and encourage domestic trade of the ringgit in efforts to stem the currency’s slide against a rising US dollar.

In 2016, the ringgit weakened about 4.3 percent against the US dollar.

- Reuters

Keep Malaysiakini independent!

Malaysiakini will be 18 this year. That we’ve survived this long is because of you.

Your support matters. A lot. Especially those who pay RM150 annually, RM288 biennially or RM388 triennially to keep Malaysiakini independent from government/opposition influence and corporate interests. Advertising alone will not keep Malaysiakini afloat.

Together, we’ve gone far. We’ve covered three prime ministers, four general elections, five Bersih rallies, and countless scandals. But the journey continues.

Help us deliver news and views that matter to Malaysians. Help us make a difference for Malaysia.

Support Malaysiakini



Malaysiakini
news and views that matter


Sign In