USD 943 mln in official reserve by end of November

The central bank, Maldives Monetary Authority (MMA), has said US$ 943.8 was available in the national reserve by the end of November 2021.

Official statistics publicized by the central bank show the amount available in the reserve by the end of November was significantly more than the amount in the reserve during the same period in 2020. The reserve had MVR 629.9 million by the end of November 2020.

The reserve had US$ 947.6 million in October.

Although MMA used to publicize information on the usable reserve, the bank no longer discloses this information. The amount in usable reserves is usually enough to cover one to two months' purchase of staple goods, approximately USD 150 to 200 million.