BNM Foreign Reserves Up at US$95.3b

KUALA LUMPUR, Sept 22, 2015:

The international reserves of Bank Negara Malaysia (BNM) amounted to RM360.1 billion – equivalent to US$95.3 billion as at Sept 15.

In a statement, BNM said: “The reserves position is sufficient to finance 7.3 months of retained imports and is 1.1 times the short-term external debt.”
The latest reserves position for BNM is slightly higher compared to RM357.7 billion or US$94.7 billion as at Aug 28.

Meanwhile, Bernama reported that the ringgit ended lower today on broad US dollar strength as players still placed odds of a US Federal Reserve rate hike this year on the table.

At 5pm, the ringgit was quoted at 4.2940/2980 to the US dollar from 4.2650/2720 at yesterday’s close.

“All gains garnered Friday post-Fed’s Open Market Committee (FOMC) announcement were wiped out. A number of Fed officials reiterated a rate hike this year remains probable.

“Technically, there is a likelihood for a move to 4.3005,” Hong Leong Bank Research said.

The local unit fell against major peers except with the euro, but firmed up against the euro to 4.8080/8133 from 4.8182/8278 yesterday.

It declined against the Singapore dollar to 3.0331/0364 from 3.0289/0343 yesterday, traded lower against the yen at 3.5801/5850 from 3.5438/5511, and weakened against the pound sterling to 6.6463/6550 from 6.6218/6344.