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Friday, March 21, 2008

Bank Negara international reserves up RM8billion

PETALING JAYA: Bank Negara Malaysia’s international reserves rose RM9.06bil to RM393.21bil (US$119.08bil) as at March 14 from RM384.15bil on Feb 29.
The central bank said the RM393.21bil was sufficient to finance 9.8 months of retained imports and was 7.2 times the short-term external debt.
Economists said the increase in international reserves could be due to foreign portfolio funds shifting their money into the bond market from equities, especially early last week following political uncertainties and external factors.
They said these funds were awaiting the ringgit to strengthen against the US dollar.www.thestar.com.my
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