Bank Negara reserves enough to support almost 8 months of imports

Bank Negara reserves enough to support almost 8 months of imports

Reserves including gold and foreign currency stands at US$102 billion.

KUALA LUMPUR: Bank Negara Malaysia’s (BNM) international reserves stood at US$102 billion on April 15, 2020, the central bank said.

It said the reserves position was sufficient to finance 7.9 months of retained imports and 1.1 times the total short-term external debt.

BNM said the main components of the international reserves comprised foreign currency reserves (US$94.7 billion), International Monetary Fund reserves position (US$1.1 billion), special drawing rights (SDRs) (US$1.1 billion), gold (US$2.0 billion), and other reserve assets (US$3.1 billion).

Assets included gold, foreign exchange and other reserves, including SDRs, which amounted to RM441.47 billion, Malaysian government papers (RM9.02 billion), deposits with financial institutions (RM3.35 billion), loans and advances (RM6.88 billion), land and buildings (RM4.16 billion), and other assets (RM19.77 billion).

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