International reserves at US$102.3bil as at May 31


  • Business
  • Wednesday, 12 Jun 2019

MALAYSIA - The central bank on May 7 became the first in Southeast Asia to cut its key interest rate this year, by 25 basis points to 3.0%, moving to support its economy at a time of concern about global growth.

PETALING JAYA: Bank Negara’s international reserves fell by US$500mil to US$102.3bil as at May 31, 2019 from two weeks prior.

In a statement issued yesterday, the central bank said the reserves position was sufficient to finance 7.3 months of retained imports and was 1.1 times the total short-term external debt.

The main components of the international reserves were foreign currency reserves (US$96.3bil), International Monetary Fund reserves position (US$1.1bil), special drawing rights (US$1.1bil), gold (US$1.6bil) and other reserve assets (US$2.2bil).

The bank’s international reserves stood at US$102.8bil on May 15, 2019, and were sufficient to finance 7.4 months of retained imports and was 1.1 times the total short-term external debt.


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