International reserves as at end-Dec 2017 remained usable — BNM
KUALA LUMPUR: The detailed breakdown of international reserves under the International Monetary Fund’s Special Data Dissemination Standard ( IMF SDDS) format indicated that as of end-December last year, the country’s reserves remained usable, said Bank Negara Malaysia ( BNM).
The central bank said in accordance with the format, the detailed breakdown of international reserves provided forward- looking information on the size, composition and usability of reserves and other foreign currency assets.
It also provided the expected and potential future inflows and outflows of foreign exchange of the federal government and BNM over the next 12-month period.
Bank Negara also said official reserve assets amounted to US$102.44 billion (US$1=RM3.89), while other foreign currency assets amounted to US$ 1.79 billion as of end-Dec 2017.
It added for the next 12 months, the pre- determined short-term outflows of foreign currency loans would amount to US$ 229.4 million, arising from scheduled repayments of external borrowings by the government.
Meanwhile, the short forward position amounted to US$ 10.10 billion as at end-December 2017, reflecting the management of ringgit liquidity in the financial system.
BNM said in line with the practice adopted since April 2006, the data excluded projected foreign currency inf lows arising from interest income and drawdown of project loans amounting to US$ 2.52 billion in the next 12 months. — Bernama
The Malaysian rubber market closed mostly lower yesterday, dragged down by bearish sentiment in the regional rubber futures markets, a fall in oil prices and lack of fresh leads, a dealer said.
The oil prices extended losses into a second session, as the stronger US dollar sapped demand for crude, whi le rising United States’ output helped dampen prices.
The dealer said the Tokyo Commodity Exchange rubber futures eased yesterday, staying just of f a twomonth low hit a day earlier, as the yen stood near a four- month high against the US dollar.