◆ The foreign exchange reserves rose by US$3.9bn in 1H October to US$104.6bn as at 15 October, albeit by
a smaller magnitude compared with an increase of US$4.8bn in 2H September. This was due to the repatriation of
export proceeds and inflow of foreign portfolio funds, which were offset partially by the payment of import bills. Also,
the increase in foreign exchange reserves suggests that Bank Negara continued to intervene in the foreign exchange
market to prevent the ringgit from rising too rapidly given the inflow of foreign capital. As it stands, foreign portfolio
investment in fixed income papers rose by RM3.4bn in August, albeit by a smaller magnitude compared with an
increase of RM5.9bn in July. As a result, their holdings in fixed income instruments rose to RM105.5bn at end-August,
the highest in more than two years and from RM102.0bn at end-July (Chart 1).
Economic Highlights - Foreign Exchange Reserves Rose To US$104.6bn As At 15 October - 25/10/2010
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