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Global funds raise Malaysia debt holdings
by hlk Thu 30 Jun 2011, 20:02
Global funds boosted their holdings of ringgit-denominated debt to a record in May as the local currency reached its strongest level in 13 years, central bank data showed.
The value of bonds owned by overseas investors rose 5 per cent during the month to RM181.5 billion (US$60 billion), according to Bank Negara Malaysia statistics published on its website today. That’s 93 per cent higher than the total a year earlier.
Their holdings included a record RM87.9 billion of regular government bonds, representing a 6 per cent jump from April, while their combined investment in short-term central bank and treasury bills rose 5 per cent to a RM76.5 billion, the central bank said. Their stakes in government Islamic bonds and corporate debt were both little changed at RM1.4 billion and RM15.6 billion respectively, it said.
Malaysia’s ringgit has appreciated 1.5 per cent this year against the U.S. dollar and touched 2.9598 on May 2, the highest level since September 1997. It rose 0.2 per cent from end-March, capping a ninth straight winning quarter. -- Bloomberg
The value of bonds owned by overseas investors rose 5 per cent during the month to RM181.5 billion (US$60 billion), according to Bank Negara Malaysia statistics published on its website today. That’s 93 per cent higher than the total a year earlier.
Their holdings included a record RM87.9 billion of regular government bonds, representing a 6 per cent jump from April, while their combined investment in short-term central bank and treasury bills rose 5 per cent to a RM76.5 billion, the central bank said. Their stakes in government Islamic bonds and corporate debt were both little changed at RM1.4 billion and RM15.6 billion respectively, it said.
Malaysia’s ringgit has appreciated 1.5 per cent this year against the U.S. dollar and touched 2.9598 on May 2, the highest level since September 1997. It rose 0.2 per cent from end-March, capping a ninth straight winning quarter. -- Bloomberg
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