It has been recently revealed that the international reserves of Bank Negara Malaysia amounted to USD112.9 billion as at 31 July 2023.
This means that the reserves position is sufficient to support about 5.1 months of imports of goods and services, according to the BNM Statement of Assets & Liabilities (31 July 2023).
It is also 1.1 times the total short-term external debt.
This means that the international reserves have also recovered slightly from last month’s USD99.2 billion, which marked the first time that foreign currency reserves have dipped below US$100.0 billion since November 2022.
It also marks a break in a downward trend which had been going on since 31 March 2023.