Bank Negara reserves at RM381.6b as at March 31

Bank Negara. AZMAN GHANI / The Star REPORTER: JOSEPH CHIN

KUALA LUMPUR: Bank Negara Malaysia on Thursday announced that its international reserves amounted to RM381.6bil (US$97.0bil) as at March 31, 2016.

As at Feb 29, 2016, the international reserves amounted to RM410.5bil which is equivalent to US$95.6bil.

In a statement, the central bank said the decline in reserves in ringgit terms was mainly due to the quarterly adjustment for foreign exchange revaluation changes following the strengthening of the local unit against various currencies in the first quarter.

The reserves position is sufficient to finance 8.0 months of retained imports and is 1.1 times the short-term external debt. - Bernama