KUALA LUMPUR (Oct 4): Bank Negara Malaysia (BNM) said Malaysia’s pre-determined short-term foreign currency outflow is seen at US$9.4 billion (about RM43.69 billion) over the next 12 months. BNM's latest projection of Malaysia’s pre-determined foreign currency outflow at US$9.4 billion over the next 12 months is higher than the previous estimate announced on Aug 30, 2022. On Aug 30, BNM said in a statement that Malaysia’s pre-determined short-term foreign currency outflow was seen then at US$8.48 billion, while the country’s projected foreign currency inflow was estimated at US$2.16 billion. “In line with the practice adopted since April 2006, the (foreign currency inflow) data excludes projected foreign currency inflows arising from interest income and the drawdown of project loans,” BNM said. Nor Shamsiah said BNM will ensure that Malaysia's onshore foreign exchange market remains liquid, so businesses can be assured that all their foreign currency needs can be efficiently fulfilled.

Source: The Edge Markets October 04, 2022 10:40 UTC