BNM international reserves up US$200m to US$104.4b as at Aug 30

PETALING JAYA: Bank Negara Malaysia’s international reserves amounted to US$104.4 billion (RM432.8 billion) as at August 30, 2018, 0.2% or US$200 million higher than the US$104.2 billion (RM432.01 billion) as at at August 15, 2018.
The central bank said in a statement that the reserves position is sufficient to finance 7.5 months of retained imports and is 0.9 times the short-term external debt.
The short-term external debt is mostly accounted by banking institutions, reflecting the centralisation of liquidity management of Malaysian banks operating in the region and the sizeable presence of foreign banks in Malaysia.
These institutions hold substantial external assets, which can be drawn upon to meet their external obligations without creating a claim on Bank Negara Malaysia’s international reserves.