KUALA LUMPUR (Oct 7): Bank Negara Malaysia's (BNM) reserves inched up a marginal 0.1% to US$97.8 billion as at Oct 14, 2016, compared to US$97.7 billion two weeks earlier. In ringgit terms, the central bank's reserve was at RM405.6 billion, compared to RM405 billion previously. In a statement today, the central bank explained the current reserves position is sufficient to finance 8.5 months of retained imports and is 1.2 times the short-term external debt. According to the central bank, the country's foreign currency reserves stood at US$89.7 billion, while the International Monetary Fund (IMF) reserves position was at US$800 million.

Source: The Edge Markets October 21, 2016 07:07 UTC