Malaysia FX Reserves at Three-Year High to Aid Ringgit Stability
Malaysia's increasing currency reserves are bolstering its defenses against market volatility.
The country's net foreign exchange reserves rose to $94.7 billion at the end of April, according to the latest central bank data, the most since June 2022. Strong foreign inflows into local bonds and a weaker greenback, which enabled Bank Negara Malaysia to unwind its net short forward FX position, both helped. These factors have strengthened the nation's bulwark against external shocks.
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