Maldives foreign currency reserve grows
Usable reserves – “the amount of funds that are readily available for use by the MMA in the foreign exchange market” – stood at US$205.6 million, enough to pay for about a month of imports
27 Mar 2018, 9:00 AM
Gross international reserves at the central bank stood at US$625.9 million at the end of January, according to the Maldives Monetary Authority’s monthly economic review.
The foreign currency reserves grew seven percent from the previous month and 31 percent compared to the same period last year.
However, usable reserves – “the amount of funds that are readily available for use by the MMA in the foreign exchange market” – was US$205.6 million, enough to pay for about a month of imports. It was up two percent annually and remained unchanged in monthly terms.
The total outstanding stock of government securities, including treasury bills and treasury bonds, meanwhile totalled MVR23.4 billion (US$1.5 billion) at the end of January.
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