BNM international reserves at highest ever of RM401 bln

KUALA LUMPUR: Bank Negara Malaysia’s foreign reserves surged to a new
historic high of RM401 billion or US$132.6 billion as at May 13.
According to the BNM statement issued on Friday, May 20 this was an
increase of RM7.8 billion or US$2.6 billion above the RM393.2 billion or
US$130 billion on April 29.
“The reserves position is sufficient to finance 9.4 months of
retained imports and is 4.4 times the short-term external debt,” the
central bank said.
Economists said the May 13 reserves at RM401 billion was the highest
ever, surpassing the earlier high of RM393.2 billion on April 29. Bulk
of the inflow was capital inflows, they added.
They said the fundamental factors remained supportive of private
capital inflows into Malaysia, which were brighter growth prospects,
positive newsflow on economic transformation and renewed investor
interest.