BNM’s official reserve assets at US$101.47 bln

THE Kuala Lumpur Tin Market (KLTM) remained unchanged for the second consecutive day at US$19,530 per tonne on the lack of a catalyst, dealers said.

However, the dealer said the closing price of the metal on the benchmark London Metal Exchange (LME), was lower by US$30 to US$19,525 per tonne.

“The market is quiet amid the shorter KUALA LUMPUR: Bank Negara Malaysia’s (BNM) official reserve assets totalled US$101.47 billion, while other foreign currency assets amounted to US$919.0 million as at end-October 2017. (US$1=RM4.08)

In a statement, the central bank said for the next 12 months, the pre-determined short-term outflows of foreign currency loans would amount to US$250.8 million arising from the scheduled repayment of external borrowings by the government.

Meanwhile, the short forward positions amounted to US$11.88 billion as at end-October 2017, reflecting the management of ringgit liquidity in the financial system, said BNM in its “Detailed Disclosure of International Reserves as at end-October 2017” released yesterday.

“In line with the practice adopted since April 2006, the data excludes projected foreign currency inflows arising from interest income and the drawdown of project loans amounting to US$2.48 billion in the next 12 months,” said the central bank.

It said the only contingent short-term net drain on foreign currency assets were government guarantees of foreign debt due within one year, amounting to US$183.2 million.

There are no foreign currency loans with embedded options, no undrawn, unconditional credit lines provided by or to other central banks, international organisations, banks and other financial institutions.

BNM said it did not engage in foreign currency options vis-à- vis the ringgit.

As at end-Oct 2017, Malaysia’s reserves remained usable.

It said the detailed disclosure was in accordance with the International Monetary Fund’s Special Data Dissemination Standard format. — Bernama