BNM says other foreign currency assets amounted to US$2.3 million as at end of last month. — Photo from www.bnm.gov.my/
KUCHING (Feb 29): Malaysia’s international reserves remain usable with official reserve assets amounted to US$114.85 billion, while other foreign currency assets amounted to US$2.3 million as at end of last month, according to Bank Negara Malaysia (BNM).
In a press statement, BNM said for 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 the maturity of foreign currency Bank Negara Interbank Bills, amounted to US$15.52 billion.
“The net short forward positions amounted to US$23.42 billion as at end-January 2024, reflecting the management of ringgit liquidity in the money market,” it added.
BNM said the projected foreign currency inflows amounted to US$2.6 billion in the next 12 months.
It pointed out that the only contingent short-term net drain on foreign currency assets is government guarantees of foreign currency debt due within one year, amounting to US$400.9 million.
“There are no foreign currency loans with embedded options, and no undrawn, unconditional credit lines provided by or to other central banks, international organisations, banks, and other financial institutions.
“Bank Negara Malaysia also does not engage in foreign currency options vis-à-vis ringgit,” BNM added.