Usable reserve of Maldives decreases by 8 percent

The central bank of the Maldives and the main regulator of the financial sector in the country, Maldives Monetary Authority (MMA) has stated that the country’s usable financial reserve has decreased by 8 percent due to the increase in the amount of USD sold by the institution.

According to the Monthly Statistics published by MMA, at the end of August 2017, the Usable reserve was USD 208.7 million and the amount was USD 191.9 million at the end of September 2017. In September 2017 usable reserve was USD 16.8 million less compared to that August 2017. This a decrease of 8 percent.

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Although the usable reserve has decreased the amount is quite close to the same period of 2016. The usable reserve is The Gross international reserve minus short-term liabilities of the nation.

There was USD 519.4 million Gross International Reserves at the end of September 2017, which is 4% less than that of September 2016.

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