Malaysia’s official reserve assets amounted to US$112.79 billion (US$1=RM4.70) at the end of April 2024- BNM

Malaysia’s official reserve assets amounted to US$112.79 billion (US$1=RM4.70) at the end of April 2024- BNM

Kuala Lumpur: Malaysia’s official reserve assets amounted to US$112.79 billion (US$1=RM4.70) at the end of April 2024, while other foreign currency assets totaled US$403.7 million, according to Bank Negara Malaysia (BNM).

In a statement today, the central bank said detailed information on international reserves would be forthcoming regarding the size, composition, and usability of reserves and other foreign currency assets following the format of the International Monetary Fund’s (IMF) Special Data Dissemination Standard (SDDS) Financial Soundness Indicators.

It also provided forecasts and prospects for the inflow and outflow of foreign exchange for the Federal Government and BNM for the next 12 months.

“In general, detailed information on international reserves according to the IMF’s SDDS format indicates that Malaysia’s international reserves at the end of April 2024 remain usable,” it said.

The central bank said that for the next 12 months, identified short-term outflows for loans, securities, and foreign currency deposits, including scheduled repayments of foreign borrowing by the government and the maturity of Interbank Bills in foreign currency by Bank Negara, amounted to US$15.35 billion.

“The net forward sales position amounted to US$27.69 billion at the end of April 2024, reflecting the smooth management of ringgit liquidity in the money market,” it said.

In line with the practice adopted since April 2006, BNM said the data did not include estimates of foreign exchange inflows from interest income and project loan disbursements.

The estimate of foreign exchange inflows amounted to US$2.39 billion for the next 12 months.

BNM said the only net short-term outflows for contingency foreign currency assets were government guarantees on foreign currency-denominated external debt maturing within one year, totaling US$400.8 million.

“This outflow does not include any foreign currency loans containing options, unused credit facilities, unconditional credit facilities provided by or to other central banks, international organizations, and other banks and financial institutions.

“BNM is also not involved in foreign exchange option transactions against the ringgit,” it said.

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