Bank Negara's international reserves at $129 billion

Bank Negara's international reserves at $129 billion
PHOTO: The Star/ANN

KUALA LUMPUR - Bank Negara Malaysia's international reserves totalled RM364.7bil (S$129 billion) as end-July, which a decline of RM14.7bil or US$3.8bil from two weeks ago.

"The reserves position is sufficient to finance 7.6 months of retained imports and is 1.1 times the short-term external debt," the central bank said on Friday.

The reserves had fallen from the RM379.4bil as at July 15. The reserves position as at July 15 was sufficient to finance 7.9 months of retained imports and was 1.1 times the short-term external debt.

The ringgit has weakened by nearly 12 per cent against the US dollar year-to-date.

According to the BNM data, the international reserves had fallen from RM405.5bil as at Dec 31, 2014 compared with RM441.9bil as at end-2013.

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