Malaysia's foreign reserves stand at 94.6 bln USD
Xinhua, January 6, 2017 Adjust font size:
Malaysia's central bank, Bank Negara, said Friday that its international reserves amounted to 94.6 billion U.S. dollars (424.2 billion ringgit) as of Dec. 30, 2016.
The international reserves consist of 87.6 billion dollars in foreign currency reserves, 0.8 billion dollars in International Monetary Fund (IMF) Reserves Position, 1.1 billion dollars in Special Drawing Rights (SDRs), 1.4 billion dollars in gold and 3.7 billion dollars in other reserves assets.
The central bank said the reserves level has taken into account the adjustment for foreign exchange revaluation changes.
It said the level of reserves remained supported by the current account surplus and inflows of foreign direct investment but were offset by direct investment abroad by Malaysian companies and some reversals of non-resident portfolio investments.
The central bank stressed its international reserves remain ample to facilitate international transactions, as the reserves position is sufficient to finance 8.8 months of retained imports, rising from 8.2 months as of Dec. 15, 2016
The reserves level is also adequate to meet external obligations with a reserve to short-term external debt coverage of 1.3 times, it added. Endit