Public Investment Bank: Malaysia’s foreign exchange reserves position may improve on vaccination drive in second half of 2021FX reserves in ringgit terms increased by almost RM11.0 billion to end at RM451.0 billion, a multi-year high thanks to the rebound in trade and capital markets performance.
“Though FX reserves may be subject to some volatility in the 1H amid the still-brewing headwinds of Covid-19, this is expected to improve steadily in the 2H, especially when Malaysia is expected to achieve Covid-19 herd immunity by then. Bank Negara Malaysia’s first quarter 2021 FX reserves jumped by US$6.9 billion year-on-year to end at US$108.6 billion, a rise that is consistent with regional peers.
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