Maldives reserve exceeds USD 600 mln

Maldives Monetary Authority - central bank - has confirmed the state reserve has bumped by 30% exceeding USD 600 million.

Central bank's monthly economic review indicates Maldives state reserve has reached a total of USD 625 million by the end of February, marking a 7% in a monthly basis.

The review from Maldives central bank also confirms the usable reserve has reached USD 205.6 million - which in annual terms is a double bump. However this is not a significant increase with regards to monthly basis.

While MMA has confirmed the country's reserve has reached the said amount government had earlier in the 2018 budget concluded reserve would float around USD 600 million throughout the year.