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Economic
Research
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9 January 2017
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Malaysia
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Economic Update
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Malaysia’s foreign exchange reserves fell by USD1.1bn to
USD95.3bn as at 30 Dec, mainly due to portfolio investment outflows and
possibly the Central Bank’s intervention in the forex market to smoothen the
sharp fluctuation of the MYR.
In MYR terms, foreign exchange
reserves, however, rose by MYR24.5bn to MYR424.2bn as at 30 Dec, attributed to a revaluation gain, as the
MYR weakened against major currencies.
Although the MYR will likely
remain weak in the near term, we expect it
to recover gradually over time, when markets return to calm with more clarity
from Mr Trump’s policies and should oil prices continue to strengthen
further.
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Monday, January 9, 2017
Forex Reserves Fall Further
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