Bank Negara official reserve assets at US$102.03b at end-Nov

KUALA LUMPUR: Bank Negara Malaysia’s (BNM) international reserve assets amounted to US$102.03 billion, while other foreign currency assets amounted to US$51.6 million as at end-November 2018.

The central bank said in a statement that for the next 12 months, the pre-determined short-term outflows of foreign currency loans, securities and deposits, which include among others scheduled repayment of external borrowings by the government and repayment of maturity proceeds from the foreign currency Bank Negara Interbank Bills would amount to US$2.97 billion.

Meanwhile, the short forward positions amounted to US$21.71 billion, reflecting the management of ringgit liquidity in the money market.

“In line with the practice adopted since April 2006, the data excludes projected foreign currency inflows arising from interest income and the drawdown of project loans amounting to US$2.57 billion in the next 12 months,” BNM said.

The only contingent short-term net drain on foreign currency assets are government guarantees of foreign currency debt due within one year, amounting to US$108.1 million.

“There are no foreign currency loans with embedded options, no undrawn, unconditional credit lines provided by or to other central banks, international organisations, banks and other financial institutions.”

BNM also does not engage in foreign currency options vis-à-vis ringgit.

Overall, the detailed breakdown of international reserves under the IMF SDDS format indicates that as at end-November 2018, Malaysia’s reserves remain usable, BNM added.