Malaysia’s reserves remained usable as at end-July 2018 with official reserve assets at US$104.51 billion, in accordance with the International Monetary Fund’s Special Data Dissemination Standard (IMF SDDS) format.

In a statement, Bank Negara Malaysia (BNM) said other foreign currency assets amounted to US$649.1 million.

“For the next 12 months, the pre-determined short-term outflows of foreign currency loans arising from the scheduled repayment of external borrowings by the government would amount to US$244.4 million.

“The short forward positions amounted to US$16.27 billion while long forward positions amounted to US$600 million, as at end-July 2018, reflecting the management of ringgit liquidity in the financial system,” it added.

In line with the practice adopted since April 2006, BNM said the data excluded projected foreign currency inflows arising from interest income and the drawdown of project loans amounting to US$2.65 billion in the next 12 months.

The central bank also said the only contingent short-term net drain on foreign currency assets were government guarantees of foreign debt due within one year, amounting to US$108.6 million.

“There are no foreign currency loans with embedded options, no undrawn, unconditional credit lines provided by or to other central banks, international organisations, banks and other financial institutions.

“BNM also does not engage in foreign currency options vis-à-vis the ringgit,” it added. 

- Bernama