KUALA LUMPUR (June 22): Bank Negara Malaysia's (BNM) international reserves improved marginally to US$113 billion (RM525.79 billion) as at June 15, 2023, from US$112.7 billion at end-May. However, this is lower than the US$114.7 billion recorded as of mid-May.

In a statement on Thursday (June 22), BNM reiterated that its reserves position is sufficient to finance 4.8 months of imports of goods and services, and is one times the total short-term external debt.

Of the main components of the international reserves, foreign currency reserves fell further to US$100.2 billion, down from US$100.3 billion as at May 31, while other reserve assets rose slightly to US$3 billion from US$2.7 billion a fortnight earlier, BNM said.

Its International Monetary Fund reserves position remained unchanged at US$1.4 billion. Also unchanged were special drawing rights at US$5.8 billion and gold at US$2.5 billion.

Meanwhile, the central bank's total assets stood at RM607.74 billion on June 15, up from RM607.5 billion on May 31. Currency in circulation amounted to RM159.12 billion, down from RM159.23 billion two weeks earlier. 

Deposits by financial institutions dropped to RM192.42 billion from RM193.9 billion, while deposits from the federal government fell to RM8.76 billion from RM9.12 billion.

BNM publishes its international reserves fortnightly in line with international best practices, including the indicator on reserve coverage of imports of goods and services.