Official Reserve Reaches $644 Million by End of August

The official reserve increased by USD 5.8 million from USD 638.0 million at the end of July, representing a month-on-month increase of 0.9%.

Mohamed Hilmy

15 September 2026, 16:59

Maldives’ official reserve rose to USD 643.8 million at the end of August, according to the latest monthly reserve figures published by the Maldives Monetary Authority (MMA).

The official reserve increased by USD 5.8 million from USD 638.0 million at the end of July, representing a month-on-month increase of 0.9%.

Despite the rise in the overall reserve, the country’s usable reserve fell from USD 221.9 million to USD 200.6 million—a decline of USD 21.3 million, or 9.6%.

The decrease was mainly due to the total amount of foreign currency sold by the MMA during August exceeding the amount received.

As part of efforts to improve access to foreign currency through the banking system and ease pressure on the foreign exchange market, the MMA increased its dollar sales to banks by 13.8% compared with the previous month.

Foreign currency inflows to the central bank also weakened during the period. Compared with July, foreign currency received by the MMA through tax and non-tax revenue collected by the Maldives Inland Revenue Authority declined by 14.3%.

The August figures show that although the Maldives recorded a modest increase in its headline official reserve, higher foreign currency sales and lower revenue inflows placed downward pressure on the portion immediately available for use.

Official Reserve Reaches $644 Million by End of August

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