Malaysia’s int’l reserves rise to 116.3 bln USD

KUALA LUMPUR, Sept. 7– Malaysia’s central bank, Bank Negara Malaysia, said on Tuesday that its international reserves rose to 116.3 billion U.S. dollars as of Aug. 30, 2021. The central bank said in a statement that the higher reserves level mainly reflected an additional allocation of Special Drawing Rights to Malaysia of SDR 3.5 billion, equivalent to 5 billion…

KUALA LUMPUR, Sept. 7 (Xinhua) — Malaysia’s central bank, Bank Negara Malaysia, said on Tuesday that its international reserves rose to 116.3 billion U.S. dollars as of Aug. 30, 2021.

The reserves were 4.49 percent or 5 billion dollars higher than 111.3 billion dollars as of Aug. 13, 2021.

The central bank said in a statement that the higher reserves level mainly reflected an additional allocation of Special Drawing Rights (SDR) to Malaysia of SDR 3.5 billion, equivalent to 5 billion dollars, by the International Monetary Fund.

“The SDR allocation will provide additional liquidity to the global financial system, bolster reserves, build confidence, and enhance the resilience of the world economy,” it said.

It also said the reserves position is sufficient to finance 8.3 months of retained imports and is 1.3 times total short-term external debt.

Malaysia’s international reserves consist of 103.4 billion dollars in foreign currency reserves, 1.4 billion dollars in International Monetary Fund Reserves Position, 6.1 billion dollars in SDR, 2.2 billion dollars in gold and 3.2 billion dollars in other reserves assets. Enditem