Decade-high reserves

Quick Summary:

Bank Negara’s international reserves are now at the strongest level in nearly a decade as investors keep pumping money into the country and more Malaysian businesses repatriate their profits.

Both Lee and Williams warned against the idea of using central bank reserves to pay the federal government’s debts.“The reserves of Bank Negara do not belong to the government.

In a statement issued last year, former Prime Minister Tun Dr Mahathir Mohamad had questioned the need for Bank Negara to maintain huge reserves.“Why must we hold so much money as reserves in the US dollar?

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Article Details

Author / Journalist: GANESHWARAN KANA

Category: EconomyBusiness

Markets: MalaysiaUnited States

Topics: /Business/Business News FinancialInflow RinggitStability ForeignReserves BankNegara CentralBankPolicy ForeignInvestment EconomicGrowth InternationalReserves Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-02 @ 00:00:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 1033 words

Reading Time: 6 minutes read

Sentences: 34 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22842875

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 53 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 1 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #22

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