Strong foreign capital inflows boost July holdings by USD0.9b
Bank Negara Malaysia (BNM) international reserves rose for the third consecutive month, increasing by USD0.9b or 0.8% MoM to RM114.7b as of 31 July 2024
- This level is sufficient to finance 5.5 months of imports of goods and services (previously retained imports: 6.4 months) and is 1.0 time total short-term external debt.
The increase is primarily due to an increase in foreign currency reserves, driven by substantial capital inflows
- Foreign currency reserves (USD0.8b or 0.8% MoM to USD102.4b): increased to a 16-month high, supported by significant foreign inflows (RM9.1b) from the capital market, and potentially higher repatriation of export earnings. Notably, BNM's net FX reserves saw a marginal gain to USD59.1b in June (May: USD58.4b).
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