Bank Negara foreign reserves dip by US$100m at July 13

(The Star) – Bank Negara Malaysia’s international reserves dipped by US$100mil to US$104.60bil as at July 13 from US$104.70bil two weeks ago.

It said on Friday the reserves position was sufficient to finance 7.5 months of retained imports and was 1.1 times the short-term external debt.

As at June 29, the reserves were US$104.7bil. The reserves position then was sufficient to finance 7.5 months of retained imports and was 1.1 times the short-term external debt.

According to the rates from the Interbank Foreign Exchange Market in Kuala Lumpur  and posted on Bank Negara’s website, the middle rate for the US$ to the ringgit on June 29 was 4.0385 and the ringgit weakened to 4.0400 as at July 13.

As at June 29, the reserves level had taken into account the quarterly adjustment for foreign exchange revaluation changes following the strengthening of the US dollar against various foreign currency reserve assets held by Bank Negara.