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Bank Negara’s international reserves fell 2.4% to US$108.2b as at Aug 30, from US$110.9b on Aug 15

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KUALA LUMPUR: The international reserves of Bank Negara Malaysia fell 2.4% to US$108.2 billion as at Aug 30, from US$110.9 billion as at Aug 15.

In a statement, the central bank said the reserves position is sufficient to finance 5.4 months of imports of goods and services and is 1.1 times the total short-term external debt.

According to Bank Negara, the country’s foreign currency reserves declined 2.4% to US$96.1 billion as at Aug 30 from US$98.5 billion on Aug 15. Other reserve assets also fell to US$2.8 billion as at Aug 30 from US$3.1 billion on Aug 15.

However, other main components of the international reserves such as the International Monetary Fund reserves position remained at US$1.3 billion during the same period, while special drawing rights (SDRs) stood at US$5.7 billion and gold at US$2.3 billion.

The assets comprised gold, foreign exchange and other reserves including SDRs (RM476.5 billion), Malaysian government papers (RM12.12 billion), loans and advances (RM23.64 billion), land and buildings (RM4.14 billion) and other assets (RM34.18 billion).

Meanwhile, capital and liabilities comprised paid-up capital (RM100 million), reserves (RM161.65 billion), currency in circulation (RM157.23 billion), deposits by financial institutions (RM165.97 billion), federal government deposits (RM12.96 billion), other deposits (RM12.06 billion), Bank Negara papers (RM8.26 billion), allocation of SDRs (RM28.25 billion) and other liabilities (RM4.1 billion).

Source : The Edge Markets

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