Edged higher by USD0.2b in January amid improving trade conditions
Bank Negara Malaysia (BNM) international reserves rose marginally by USD0.2b or 0.2% MoM, reaching USD116.4b as of 31 January 2025
- Given the modest increase, reserve adequacy remains unchanged, with import coverage holding at 5.0 months and full coverage of total short-term external debt (1.0x).
The marginal increase was driven by a slight uptick in FX holdings, gold, and other reserve assets
- Foreign currency reserves (+USD0.1b or +0.05% MoM to USD103.8b): edged higher despite sustained capital outflows, likely supported by a strong trade surplus and robust FDI inflows. Notably, BNM’s net FX reserves held steady at USD63.9b in December, though short positions widened to USD29.3b (Nov: USD27.7b).
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