Dollar Reserve Stood at USD 943.8 Million at End of November 2021

Maldives’ official reserve stood at USD 943.8 million at the end of November last year, according to the central bank Maldives Monetary Authority (MMA).

MMA revealed that the reserve stood at USD 943.8 million at the end of November 2021. However, this is a significant increase compared to the USD 629.9 million reserve during the same period of the previous year.

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The reserve stood at USD 947.6 million at the end of October 2021. Hence, the reserve figure at the end of November 2021 is a decrease compared to the previous month.

The total reserve of Maldives has changed rapidly. One of the main reasons for the increase in the dollar reserve is the deposit of state borrowings or debt to the state finances in various ways.

MMA has previously published information on the usable reserve of the Maldivian reserve. However, these statistics have now been halted from being made public.

The reserve typically contains USD to be purchased to import goods to the Maldives in one month and two months. This amounts to USD 150 million and USD 200 million.

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