The Maldives Monetary Authority (MMA) has stated that the total foreign currency reserves of the state have reached 832 million dollars, with usable reserves reaching 179 million dollars. According to statistics released by the MMA, at the end of last month, official reserve assets stood at 832.1 million dollars. While this figure was 708.1 million dollars in January, it has increased by 18 percent last month.
According to the statistics, the usable reserves have increased by 63 million dollars compared to the usable reserves in January. This is a 54 percent increase when compared to January’s figure.
It is noteworthy that the reserve situation began to improve following a currency swap of 400 million dollars under an agreement between the central bank MMA and the Reserve Bank of India, as well as the implementation of the foreign currency regulation introduced by the government last October, which allowed banks to exchange dollars for the first time in January.
