By Yantoultra Ngui
KUALA LUMPUR, Malaysia--Malaysia's international reserves totaled $94.6 billion as of Dec. 30, down 1.9% from $96.4 billion two weeks earlier, the central bank said Friday.
The reserves are sufficient to finance 8.8 months of retained imports, and are 1.3 times the country's short-term external debt, Bank Negara Malaysia said in a statement.
The bank said the latest data takes into account adjustments for foreign-exchange revaluation changes.
It said Malaysia's reserves remain ample to facilitate international transactions, adding that the level was supported by the current-account surplus and foreign-direct-investment inflows.
"These were, however, offset by direct investment abroad by Malaysian companies and some reversals of non-resident portfolio investments," Bank Negara Malaysia said.
Malaysia's currency has weakened more than 6% against the U.S. dollar since Donald Trump's U.S. election victory in November. The ringgit has been among the worst-hit currencies since Mr. Trump's presidential win.
In November, Bank Negara Malaysia entered markets to defend the ringgit after the local currency weakened.
Write to Yantoultra Ngui at firstname.lastname@example.org
(END) Dow Jones Newswires
January 06, 2017 02:36 ET (07:36 GMT)
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