Malaysia’s reserves down to RM314 billion, inflation up 3.7%

ARCHIVES 2009

By MT Webmaster On Mar 20, 2009

Malaysia's inflation rate in Feb increased to 3.7% compared to the same period last year.When compared to the previous month, it increased by 0.2%.

Meanwhile, from Jan to Feb 2009, the Consumer Price Index (CPI) was up by 3.8%, said the Department of Statistics in a statement Friday (20 March).

The department said the index for food and non-alcoholic beverages for Feb compared to the same month last year, showed a high percentage change of 9.2%, while that for non-food increased by 1.1%.

The department said the 3.8% rise in the CPI was brought about by increases observed in the indices of all the main groups expect transport, clothing and footwear as well as communication, which decreased by 2.1%, 0.7% and 0.5%, respectively.

Notable increases among the main groups were food and non-alcoholic beverages, which increase 9.5% while housing, water, electricity, gas and other fuels rose 1.5%.

Bank Negara Malaysia's (BNM) international reserves fell to RM314 billion (equivalent to US$90.6 billion) as at 13 March, from RM315.9 billion (US$91.1 billion) as at 27 Feb.

In a statement here Friday (20 March), BNM said the reserves position was sufficient to finance 7.7 months of retained imports and was 3.9 times the short-term external debt.

The reserves comprised foreign currency reserves (US$84.8 billion), International Monetary Fund reserves position (US$300 million), Special Drawing Rights (US$200 million), gold (US$400 million) and other reserves (US$4.9 billion).

The central bank's assets as at 13 March, stood at RM343.855 billion.

Apart from the international reserves, other assets included Malaysian government papers (RM2.676 billion), deposits with financial institutions (RM7.666 billion), loans and advances (RM12.58 billion) and other assets (RM6.931 billion).

Its liabilities comprised paid-up capital (RM100 million), general reserves fund (RM10.8 billion), other reserves (RM15.844 billion), currency in circulation (RM47.26 billion), deposits by financial institutions (RM174.025 billion), deposits by Federal Government (RM15.841 billion), other deposits (RM322.106 million), Bank Negara papers (RM49.103 billion), allocation of SDRs (RM742.64 billion) and other liabilities (RM29.817 billion). (Bernama)