Bank Negara international reserves hold steady

  • Business,Corporate News,Banking
  • Thursday, 23 Nov 2017

PETALING JAYA: Bank Negara’s international reserves held steady at US$101.5bil (RM429bil) as at Nov 15, supported by steady trade flows.

In a statement, the central bank revealed that its international reserves position was unchanged from the amount recorded on Oct 31. “The reserves position is sufficient to finance 7.5 months of retained imports and is 1.1 times the short-term external debt,” Bank Negara said in the statement.

The steady international reserves of the central bank came amid net portfolio capital outflows on foreign selling in the domestic equity and bond markets.

But net trade inflows through repatriation of export earnings managed to keep the central bank’s international reserves steady. The main components of the international reserves were foreign currency reserves (US$95bil), International Monetary Fund reserves position (US$800mil), Special Drawing Rights (US$1.2bil), gold (US$1.5bil) and other reserve assets (US$3bil).

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