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Bank Negara reserves at RM423b [10-01-2012]  
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Bank Negara said its international reserves amounted to RM423.4bil (US$133.6bil) as at Dec 31, 2011.

In a statement yesterday, the central bank said the reserves level had taken into account the quarterly adjustment of foreign exchange revaluation loss, following the strengthening of the ringgit against some major currencies during the quarter. The reserves position was sufficient to finance 9.7 months of retained imports and was four times the short-term external debt.

It said for 2011 as a whole, the international reserves rose by RM94.8bil to RM423.4bil (end-2010: RM328.7bil).

Bank Negara says the higher reserves reflect mainly the current account surplus and inflows of foreign direct investment

The higher reserves reflected mainly the current account surplus and inflows of foreign direct investment, portfolio capital and other investments, it said. It said the inflows, however, were partly offset by direct investment abroad.

It said there was also a cumulative unrealised foreign exchange revaluation gain following the strengthening of some of the major currencies against the ringgit during the year. - Bernama

The central bank said Malaysia's international reserves, which were usable and unencumbered, were expected to continue to remain at a comfortable level this year.

The level of reserves would be supported by the trade and investment inflows, it said.

Source:THE STAR
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