International reserves of BNM as at 31 December 2009
Kuala Lumpur, Malaysia, 7 January 2010 (www.biznewsselect.com) The international reserves of Bank Negara Malaysia amounted to RM331.3 billion (equivalent to USD96.7 billion) as at 31 December 2009. The reserves level as at 31 December 2009 has taken into account the quarterly adjustment of the foreign exchange revaluation loss, following the strengthening of the ringgit against most major currencies during the quarter. The reserves position is sufficient to finance 9.8 months of retained imports and is 4.1 times the short-term external debt.
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International reserves of BNM as at 31 December 2009
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For the year 2009 as a whole, the international reserves increased by RM13.9 billion, attributable to the continued surplus in the current account as well as net inflows of portfolio investments. In addition, the cumulative foreign exchange revaluation gain during the year amounted to RM10.7 billion, reflecting the strengthening of some of the major currencies against the ringgit, particularly in the first three quarters of 2009.
Malaysia's international reserves, which are usable and unencumbered, are expected to remain at a comfortable level in 2010. The continued recovery in the global economy is expected to support Malaysia’s trade surplus as well as the inflow of foreign direct investments.
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