Dollar Reserve
2 articles
Latest
BusinessForeign exchange reserves drop for fourth consecutive month
The Maldives' foreign exchange reserves dropped for a fourth straight month in July, with usable reserves falling to $22.8 million. The decline follows major debt repayments and a currency swap conclusion. Experts warn that without austerity measures or increased revenue from tourism tax reforms, the national economy faces growing risks.
BusinessGross reserves decline, usable reserves see improvement
The Maldives' usable reserves rose to $252.5 million in May despite a decline in gross reserves to $704.7 million. This growth was driven by reduced short-term debt, even as dollar revenue fell below $100 million due to slowing tourism. The recovery follows a dip from a previous sukuk repayment.