Malaysia cbank defends peg, explains reserves drop

MALAYSIA - The Malaysian central bank issued a statement on Apr 9, 2001 in defence of its ringgit/dollar fixed exchange rate after posting a six percent drop in its international reserves in Mar 2001.

Bank Negara Malaysia issued data on its website showing reserves dropped $1.81 billion to $27.81 billion on Mar 31 from $28.99 billion at the end of Feb 2001.

It said a loss due to revaluation of reserves accounted for $900 million of the drop, and a further $600 million was due to a higher import

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: