MMA Data Shows Usable Reserves Surpass $400 Million in March

Mohamed Hilmy

21 April 2026, 10:35

Maldives Monetary Authority data shows that the Maldives’ usable reserves exceeded $400 million by the end of March, reflecting a notable increase compared to the previous month.

Official reserves stood at $409 million at the end of March, marking a 21.3 percent increase from $337 million recorded at the end of February.

In addition to official reserves, total usable reserves reached $1.33 billion, representing a 4.7 percent increase from $1.27 billion in February.

The data highlights a recovery compared to the same period last year, when official reserves stood at $791 million.

Key factors contributing to the improvement include foreign exchange regulations introduced last year, requiring a portion of tourism-related revenue to be converted through the banking system.

The strengthening of reserves also follows the settlement of a $500 million Sukuk earlier this month, along with $24.68 million in interest payments.

The repayment was completed without taking on additional debt, utilising state reserves and funds from the Sovereign Development Fund, including $150 million allocated from the fund.

The increase in reserves reflects ongoing efforts to stabilise the country’s foreign exchange position and manage external financial obligations.

MMA Data Shows Usable Reserves Surpass $400 Million in March

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