Maldives reserve up 26 percent

The national reserve had reserved a 26 percent increase in 2017 in comparison with the previous year, Maldives central bank statistics have shown.

According to the Maldives Monetary Authority (MMA) monthly economic review for December 2017, the country's gross international reserves (GIR) stood at USD586.2 million at the end of the month.

The figure was a 26 percent increase in annual terms and an 11 percent increase in monthly terms, the review said.

MMA further said usable reserves amounted to USD206.4 million at the end of December, representing a monthly growth of 20 percent and a marginal annual growth of three percent.

The monthly increase in usable reserves largely reflected an increase in foreign currency receipts to
the MMA, the review added.