Maldives’ reserve increased to USD 444M at end of August

Statistics by central bank, Maldives Monetary Authority (MMA) show that Maldives’ national reserve increased USD 444 million at the end of August.

As per MMA’s statistics, the national reserve stood at USD 395 million at the end of July, meaning the usable reserve stood at USD 45 million.

However, the national reserve increased by USD 49 million at the end of August, thus now amounting to USD 444 million in total.

With the increase, the usable reserve currently stands at USD 61 million; enough for one month’s imports.

The highest the national reserve stood during this year was in April at USD 622 million and the lowest was in July, at USD 395 million.

The national reserve stood at USD 551 million at the start of this year.

MMA projects the national reserve, including the usable reserve and sovereign development fund, to rise above USD 606 million by the end of the year.