Malaysia's central bank Bank Negara Malaysia said on Wednesday that its international reserves stood at $103.9 billion as of July 31.

The reserves were 0.6 percent higher compared with $103.3 billion as of July 15.

The central bank said in a statement that the reserves position is sufficient to finance 7.6 months of retained imports and is 1.2 times total short-term external debt.

The international reserves consisted of $97.7 billion in foreign currency reserves, $1.2 billion in International Monetary Fund Reserves Position, $1.1 billion in Special Drawing Rights, $1.8 billion in gold and $2.1 billion in other reserves assets.