YTD Official Reserves Increases to US$788.8 million

The official reserves have increased to US$ 788.8 million.

Central Bank, Maldives Monetary Authority (MMA) published statistics show that by the end of April, the figure had increased to US$ 788.8 million. This is an increase of 59 percent, on a monthly basis and a nine percent increase from the Year to Date figure a year ago.

MMA had published statistics last February. Statistics were last published for January this year. Then the reserves were at US$ 625.9 million. While this figure was a 31 percent increase annually, but an increase of seven percent on a monthly basis.

Usable reserves in this period was at US$ 205.6 million. This is an increase of two percent in annual terms – not a significant change comparing on a monthly basis.

Reserves are a key economic indicator, highlighting the economic viability of the economy at any given time.

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