Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/1/10/business/10231746&sec=business
Published: january 10, 2012
Bank Negara says the higher reserves reflect mainly the current
account surplus and inflows of foreign direct investment
In a statement yesterday, the central bank said the reserves level had taken into account the quarterly adjustment of foreign exchange revaluation loss, following the strengthening of the ringgit against some major currencies during the quarter. The reserves position was sufficient to finance 9.7 months of retained imports and was four times the short-term external debt.
It said for 2011 as a whole, the international reserves rose by RM94.8bil to RM423.4bil (end-2010: RM328.7bil).
The higher reserves reflected mainly the current account surplus and inflows of foreign direct investment, portfolio capital and other investments, it said. It said the inflows, however, were partly offset by direct investment abroad.
It said there was also a cumulative unrealised foreign exchange revaluation gain following the strengthening of some of the major currencies against the ringgit during the year.
The central bank said Malaysia's international reserves, which were usable and unencumbered, were expected to continue to remain at a comfortable level this year.
The level of reserves would be supported by the trade and investment inflows, it said. Bernama
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