Bank Negara Malaysia says the nation’s international reserves are sufficient to finance 8.6 months of retained imports.

KUALA LUMPUR: Bank Negara Malaysia’s (BNM) international reserves increased to US$108.6 billion as at Jan 29 compared with US$107.8 billion as at Jan 15.

The central bank said the reserves position is sufficient to finance 8.6 months of retained imports and is 1.2 times the total short-term external debt.

In a statement, it said the main components of the international reserves were foreign currency reserves (US$100.4 billion), International Monetary Fund reserves position (US$1.4 billion), Special Drawing Rights or SDRs (US$1.2 billion), gold (US$2.4 billion) and other reserve assets (US$3.2 billion), all of which comes to a total of about RM436.59 billion.

Other assets comprise Malaysian government papers (RM11.14 billion), deposits with financial institutions (RM2.95 billion), loans and advances (RM18.47 billion), land and buildings (RM4.16 billion) and other assets (RM17.07 billion). 

BNM also said capital and liabilities comprised of paid-up capital (RM100 million), reserves (RM169.96 billion), currency in circulation (RM137.68 billion), deposits by financial institutions (RM140.61 billion), federal government deposits (RM8.5 billion), other deposits (RM11.91 billion), BNM papers (RM10.22 billion), allocation of SDRs (RM7.79 billion) and other liabilities (RM3.62 billion) - Free Malaysia Today