Summary Bank Negara: Malaysia’s official reserves assets at US$113.76b as of end-March 2024 | Malay Mail www.malaymail.com
963 words - html page - View html page
One Line
Malaysia's official reserves stood at US$113.76 billion as of end-March 2024, with short-term outflows of US$13.24 billion and net short forward positions of US$26.71 billion.
Slides
Slide Presentation (7 slides)
Key Points
- Malaysia's official reserve assets amounted to US$113.76 billion as of end-March 2024
- Other foreign currency assets stood at US$1.61 billion
- Pre-determined short-term outflows of foreign currency loans, securities and deposits amounted to US$13.24 billion
- Net short forward positions amounted to US$26.71 billion
- Projected foreign currency inflows in the next 12 months amounted to US$2.50 billion
- Government guarantees of foreign currency debt due within one year amounted to US$400.8 million
- Bank Negara Malaysia does not engage in foreign currency options vis-à-vis the ringgit
Summaries
21 word summary
Malaysia's official reserves at US$113.76b as of end-March 2024, with short-term outflows of US$13.24b and net short forward positions of US$26.71b.
44 word summary
Malaysia's official reserves assets stood at US$113.76 billion as of end-March 2024, with pre-determined short-term outflows of US$13.24 billion and net short forward positions of US$26.71 billion. The central bank confirmed the reserves remain usable, contributing to the country's financial stability and economic resilience.
108 word summary
Bank Negara Malaysia reported that the country's official reserve assets amounted to US$113.76 billion as of end-March 2024. The central bank provided a detailed breakdown of the reserves, including pre-determined short-term outflows of US$13.24 billion and net short forward positions of US$26.71 billion. The only contingent short-term net drain was US$400.8 million in government guarantees. BNM confirmed there were no foreign currency loans with embedded options or undrawn credit lines. The detailed data indicates Malaysia's international reserves remain usable, providing guidance on expected inflows and outflows. The release aligns with BNM's commitment to transparency and adherence to international standards, contributing to the country's financial stability and economic resilience.
349 word summary
Bank Negara Malaysia (BNM) has reported that Malaysia's official reserve assets amounted to US$113.76 billion (RM542.36 billion) as of the end of March 2024. Additionally, the country's other foreign currency assets stood at US$1.61 billion.
The central bank provided a detailed breakdown of the international reserves in accordance with the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) format. This information offers forward-looking insights into the size, composition, and usability of the reserves and other foreign currency assets.
According to the breakdown, the pre-determined short-term outflows of foreign currency loans, securities, and deposits, including scheduled repayment of external borrowings by the government and the maturity of foreign currency Bank Negara Interbank Bills, amounted to US$13.24 billion over the next 12 months.
The net short forward positions, which reflect the management of ringgit liquidity in the money market, amounted to US$26.71 billion. BNM noted that the data excludes projected foreign currency inflows arising from interest income and the drawdown of project loans, which are estimated to be US$2.50 billion in the next 12 months.
The only contingent short-term net drain on foreign currency assets is government guarantees of foreign currency debt due within one year, amounting to US$400.8 million. BNM also confirmed that there are no foreign currency loans with embedded options, no undrawn, unconditional credit lines provided by or to other central banks, international organizations, banks, and other financial institutions, and that the central bank does not engage in foreign currency options vis-à-vis the ringgit.
Overall, the detailed breakdown of international reserves under the IMF SDDS format indicates that as of the end of March 2024, Malaysia's international reserves remain usable. This information provides guidance on the expected and potential future inflows and outflows of foreign exchange for the federal government and BNM over the next 12-month period.
The release of this data is in line with BNM's commitment to transparency and providing timely and accurate information to the public. The central bank's efforts to adhere to international standards and best practices in the management of Malaysia's international reserves contribute to the country's financial stability and economic resilience.