The international reserves held by Bank Negara Malaysia (BNM) increased to USD114.9 billion as on Jan 13, 2023, up from USD114.6 billion recorded on Dec 30, 2023. One US dollar is equivalent to Ringgit Malaysia 4.2920.

The central bank issued a statement today indicating that the reserves position is adequate to fund 5.3 months’ worth of imports of goods and services. Additionally, the reserves position is sufficient to cover one time the total amount of short-term foreign debt.

According to the prior import coverage metric, it was said that the reserves were adequate to finance 6.2 months of retained imports of goods.

According to BNM, the primary components of the international reserves were the following: foreign currency reserves (USD102.6 billion), the reserves position of the International Monetary Fund (USD 1.4 billion), Special Drawing Rights (SDRs) (USD5.7 billion), gold (USD2.3 billion), and other reserve assets (USD2.9 billion).

Gold and foreign exchange were included in the assets, as well as other reserves such as special drawing rights (RM504.52 billion), Malaysian government papers (RM12.82 billion), deposits with financial institutions (RM4.89 billion), loans and advances (RM23.70 billion), land and buildings (RM4.14 billion), and other assets (RM71.72 billion).

In addition, the central bank stated that capital and liabilities included paid-up capital in the amount of RM100 million, reserves in the amount of RM160.36 billion, currency in circulation in the amount of RM164.62 billion, deposits by financial institutions in the amount of RM210.58 billion, deposits from the federal government in the amount of RM9.78 billion, other deposits in the amount of RM38.06 billion, Bank Negara papers in the amount of RM5.95 billion, allocation of SDRs (RM4.12 billion)

info source – Bernama