Hit 12-year high despite lower gold holdings, but a weaker MYR flags rising FX risk
Bank Negara Malaysia (BNM) international reserves rose USD2.0b (+1.5% MoM) to USD132.6b as at 30 June 2026, the highest level since January 2014
- Import cover improved to 4.7 months (May: 4.6 months), while the reserves-to-short-term external debt ratio remained unchanged at 0.9x.
FX assets drove the increase, offsetting a decline in gold holdings
- Foreign currency reserves rose by USD2.5b (+2.2% MoM) to USD117.2b, likely supported by renewed foreign inflows into the domestic bond market. Net FX reserves climbed to USD83.4b in May (Apr: USD81.1b), the highest in over four years.
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