BNM: Malaysia’s official reserves at $104.2b as at end-July 2020

29-Aug-2020 Intellasia | Malay Mail | 6:02 AM Print This Post

Malaysia’s international reserves remained usable as at end-July 2020, with official reserve assets at $104.21 billion (RM435.04 billion), in accordance with the International Monetary Fund’s Special Data Dissemination Standard (IMF SDDS) format.

In a statement today, Bank Negara Malaysia (BNM) said other foreign currency assets amounted to $911.5 million as at end-July 2020.

“For the next 12 months, the pre-determined short-term outflows of foreign currency loans, securities and deposits, which include among others, scheduled repayment of external borrowings by the government and repayment arising from the maturity of foreign currency Bank Negara Interbank Bills, amount to $8.83 billion,” it said.

The central bank said the short forward positions amounted to $8.65 billion while long forward positions amounted to $880.0 million as at end-July 2020, reflecting the management of ringgit liquidity in the money market.

“In line with the practice adopted since April 2006, the data excludes projected foreign currency inflows arising from interest income and the drawdown of project loans,” it said.

According to BNM, projected foreign currency inflows amount to $2.31 billion in the next 12 months, and the only contingent short-term net drain on foreign currency assets are government guarantees of foreign currency debt due within one year, amounting to $277.7 million.

“There are no foreign currency loans with embedded options, no undrawn, unconditional credit lines provided by or to other central banks, international organisations, banks and other financial institutions.

“BNM also does not engage in foreign currency options vis-a-vis the ringgit,” it added.


Category: Malaysia

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