Bank Negara’s international reserves at RM407.8bil as at Nov 15

According to UBS, Bank Negara is likely to cut its overnight policy rate by 25 basis points in 2015, with lower oil prices cushioning the pressure on inflation.

KUALA LUMPUR: Bank Negara’s international reserves amounted to RM407.8bill (US$98.3bil) as at Nov 15, 2016 compared with RM405.5bil (equivalent to US$97.8bil) as at Oct 31, 2016.

In a statement Tuesday, the central bank said the reserve position were sufficient to finance 8.4 months of retained imports and is 1.2 times the short-term external debt.

The main components of the international reserves were foreign currency reserves (US$90.9bil), International Monetary Fund reserves position (US$0.8bil), Special Drawing Rights (SDRs) (US$1.1bil), gold (US$1.6bil) and other reserve assets (US$3.9bil).