According to the latest statistics from the central bank, the Maldives’ official reserves climbed to $1.27 billion by the end of February this year, marking a significant 23% increase compared to January. In conjunction with the growth in official reserves, usable reserves also saw an 11.8% rise, reaching a total of $337 million.
The primary factors contributing to this strengthening of the reserves include the surge in tourist arrivals and the increased volume of foreign currency being exchanged through the banking system following the implementation of new foreign exchange regulations. The government highlighted that these developments reflect a positive shift in the nation’s overall financial stability.
