Bank Negara international reserves falls by US$2 billion in two weeks

Bank Negara says the drop in the value of its international reserves was mainly due to the quarterly adjustment for foreign exchange revaluation charges. – The Malaysian Insider file pic, October 7, 2015.Bank Negara Malaysia's (BNM) international reserves fell to US$93.3 billion (RM415.1 billion) as at September 30, 2015 from US$95.3 billion (RM360.1 billion) as at September 15, 2015.

In a statement today, BNM said the decline in reserves level in US dollar terms as at September 30, 2015 was mainly due to the quarterly adjustment for foreign exchange revaluation changes.

Based on released numbers, the exchange rate of the ringgit against the US dollar was 4.45 for September compared with 3.78 previously.

The reserves position as at September 15, 2015 is sufficient to finance 8.6 months of retained imports and is 1.2 times the short-term external debt, said the central bank. – The Edge Markets