The usable foreign currency reserves fell by USD 25 million at the end of August, according to figures from the Maldives Monetary Authority (MMA).
The figures show that total reserves stood at USD 810 million at the end of last month. This is an increase of USD 35.5 million compared to July.
Despite an increase in total reserves, usable reserves declined in August. Usable reserves stood at USD 213 million in July, but the figure has now dropped to USD 188 million.
The usable reserves are calculated by deducting short-term debt from total reserves and including dollars invested in domestic banks.
The central bank invested part of a USD 800 million currency swap facility from the Reserve Bank of India in 2024. At the end of August, MMA had invested USD 117 million in banks.
Monthly update of the usable reserve
- January - USD 116 million
- February - USD 179 million
- March - USD 170 million
- April - USD 171 million
- May - USD 218 million
- June - USD 203 million
- July - USD 213 million
- August - USD 188 million
