Fell by USD1.0b in April amid risk-off environment
Bank Negara Malaysia (BNM) international reserves continued to decline by USD1.0b or -0.9% MoM to a fivemonth low of RM112.8b as of 30 April 2024
- It is sufficient to finance 5.5 months of imports of goods and services (previously retained imports: 6.6 months) and is 1.0 time total short-term external debt.
The decline was primarily attributed to a continued drop in foreign currency reserves and other reserve assets
- Foreign currency reserves (-USD0.7b or -0.7% MoM to USD100.6b): decreased for the third consecutive month, potentially due to a reduction in the converted value of non-USD assets, BNM’s foreign exchange intervention, outflows from the capital market, and lower repatriation of export earnings.
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