(Updated)

BNM international reserves slip below US$110 bil

BNM international reserves slip below US$110 bil
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KUALA LUMPUR (June 22): The international reserves of Bank Negara Malaysia (BNM) amounted to US$109.2 billion as at June 15, 2022, the central bank said on Wednesday (June 22, 2022).

"The reserves position is sufficient to finance 5.5 months of imports of goods and services, and is 1.1 times the total short-term external debt," BNM said.

At US$109.2 billion, BNM's latest-reported international reserves slipped below US$110 billion for the first time, possibly since March 2021 when the figure stood at US$108.62 billion, according to BNM data.

Prior to Wednesday (June 22, 2022), BNM had previously reported its international reserves data on June 8, 2022 when the central bank said the figure stood at US$112.8 billion as at May 31, 2022.

On Wednesday (June 22, 2022), the central bank said that as at the close of business on June 15, 2022, its assets were valued at RM520.93 billion.

"The US dollar equivalent of international reserves as at June 15, 2022 was US$109.2 billion," BNM said.

According to BNM, the main components of its international reserves included foreign currency reserves which stood at US$96.3 billion, International Monetary Fund (IMF) reserves at US$1.4 billion besides US$6 billion worth of IMF-linked special drawing rights (SDRs).

The main components of BNM's international reserves included US$2.4 billion worth of gold and US$3.1 billion worth of other reserve assets.

According to the IMF's website, the SDR is an international reserve asset created by the fund in 1969 to supplement its member countries' official reserves.

"The value of the SDR is based on a basket of five currencies — the US dollar, the euro, the Chinese renminbi (yuan), the Japanese yen and the British pound sterling," the IMF said.