Maldives Monetary Authority has announced a 6% increase to the usable reserves and a 16% increase to the total national reserves of Maldives. The usable reserves are foreign currency for the purpose of purchase of necessary items such as fuel, food items, and medical supplies for the country.
According to MMA, the useable reserves totaled USD 213.3 million the previous month, while it was USD 201.5 million the month before. The National reserves totaled USD 516.8 million at the end of last month while the month before, it was at USD 476.1 million, indicating 16% increase to funds.
MMA also announced a 23% increase to the T-bill investments by local banks. According to MMA’s monthly economic review, the outstanding (un-matured) T-bills, Securities, and Bonds have risen slightly to amount to MVR 23.2 billion.
Full details are available from the link below:
Source URL: Corporate Maldives