Rose 1.3% MoM to USD112.9b in July due to an increase in foreign currency reserves
Bank Negara Malaysia (BNM) international reserves reverted to an uptrend after three straight months of decline, increasing by USD1.5b or 1.3% MoM to a three month high of USD112.9b as of 31 July 2023
- Sufficient to finance 5.1 months of imports of goods and services (previously retained imports) and is 1.1 time total short-term external debt.
This was primarily due to a sharp increase in foreign currency reserves
- Foreign currency reserves (USD1.5b or 1.3% MoM to USD100.7b): rebounded to above the USD100.0b mark due to an increase in the repatriation of export proceeds and a higher USD-converted value of other currencybased assets.
- Meanwhile, special drawing rights, other reserve assets, gold, and IMF reserve position remained fairly unchanged.
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