Higher foreign currency and gold reserves lift June holdings slightly by RM0.2b
Bank Negara Malaysia (BNM) international reserves continued to rise, increasing by USD0.2b or 0.2% MoM to RM113.8b as of 28 June 2024
- It is sufficient to finance 5.4 months of imports of goods and services (previously retained imports: 6.4 months) and is 1.0 time total short-term external debt.
This can be attributable to higher foreign currency and gold reserves amid quarterly revaluation gains
- Foreign currency reserves (USD0.1b or 0.1% MoM to USD101.5b): increased slightly due to FX revaluation gains. Of note, the BNM's net FX reserves increase marginally to USD58.4b in May (Apr: USD57.6b), but still well below its 10-year average of USD80.9b, as the short position in FX swaps remained high at USD26.9b.
Download Full Content:
