International reserves at US$102.3bil as at May 31

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.