Bank Negara Malaysia (BNM) reported that its international reserves amounted to US$113.4 billion (RM537.5 billion) as of March 15, 2024, slightly down from USD114.3 billion recorded at the end of February 2024.
According to the central bank, this reserves position remains robust, covering 5.4 months of imports of goods and services, and is equivalent to 1.0 times the total short-term external debt.
The primary components of the reserves were foreign currency reserves, totaling US$100.8 billion, followed by International Monetary Fund reserves (USD1.4 billion), special drawing rights (SDRs) (USD5.8 billion), gold (US$2.6 billion), and other reserve assets (USD2.8 billion).
BNM’s total assets stood at RM620.64 billion, consisting of gold, foreign exchange, and other reserves, including SDRs. The assets also include Malaysian Government papers, deposits with financial institutions, loans and advances, land and buildings, and other assets.
On the capital and liabilities side, BNM’s reserves amounted to RM189.39 billion, supported by currency in circulation, deposits by financial institutions, federal government deposits, and other liabilities.
Despite the slight decline in international reserves, BNM reassured the public that the reserves position remains strong and sufficient to support the country’s economic stability.
The central bank continues to monitor economic developments closely and stands ready to implement necessary measures to safeguard the nation’s financial well-being.
